JKH.N0000 - Key fib levels in monthly chartJKH is consolidating in golden pocket now. It should close above golden pocket to keep bullish momentum.In next few months, Next support will be around 0.5 fib level and resistance will be 0.718
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Raigam Wayamba Saltetns RWSL.N0000-(CSE/Colombo Stock Exchange)Fundamentals
* Expected 12M EPS - LKR 1.20
* PE - 5.91 (@ LTP LKR 7.10)
* NAV - LKR 8.36
* Expecting NAV YE March 2024 - LKR 8.76
* PBV - 0.81
* Free Cash/Share (Including Fixed Deposits) - > LKR 3.00
Fundamental Investment Thesis Summary
* Sri Lanka had extremely high interest rates above 25% during 2022 & 2023
* Now fixed income rates had dropped below 10% and expecting fall below and remain lower
* No incentive for the company to continue with high free cash buffers
* Company is currently debt free. As borrowing rates are low, company can execute expansions on borrowings.
* Expecting distribution of free cash as enhanced dividends
Fundamental business outlook
* 2024 is expected to be a dry year (El Nino effects) for Sri Lanka. Dry conditions are very much conducive for salt production.
* Sri Lanka is coming out of an economic crisis. Consumption levels are expected to grow rapidly in 2024 (Growth of tourism/increased consumption from native population
Technical Analysis (Chart Patterns)
* With the breaking of LKR 7, RWSL is with a confirmed C&H Break Out. Target LKR 8.30, 18% upside.
* 52 W High LKR 9.30
BIL.N0000 (CSE/Colombo Stock Exchange)Fundamentals
* 9M EPS LKR 1.53
* PE - 4 (@ LTP LKR 6.20)
* NAV - LKR 9.65
* PBV - 0.64
* Largest shareholder of HNB
Fundamental business outlook
** If ISB re-structuring achieved with no haircuts prompting HNB to reverse 100% provisions, a positive impact of LKR 1.23/share of BIL will occur.
Technical Analysis (Chart Patterns)
* With the breaking of LKR 5.80, BILs with a confirmed C&H Break Out.
Potential Pattern Targets
* Ascending triangle (handle of C7H pattern) LKR 6.60
* Cup & handle pattern target LKR 7.60
* 2 yearlong Descending Wedge breakout target LKR 10.50
Long
BIL Bulls Taking Charge [Sri Lanka]All technical indicators indicate that BIL will once again reach double digits this year. BIL reached an all-time high of LKR 19.2 in the December 2021 bull run, only to later retrace by 80% to LKR 3.9 in April 2022. BIL appears to have consolidated between LKR 8.2 (0.618 Fib Retracement) and LKR 5.2 (0.786 Fib Retracement) in the subsequent 24 months.
EMA - Trading above the 15/30/65 EMA
Pivot Points - 4H/24H/1W pivot points are bullish
Volume - Increased interest on the counter in the last 3 weeks as volumes spiked
Outlook
I expect BIL bulls to easily reach LKR 7.1 within the next 20 market days. Resistance would appear at LKR 6.6, but selling pressure will be absorbed.
BIL will resume its journey towards double digits, encountering resistance at LKR 8.0, only to be absorbed.
The trade idea will be invalidated if the price drops below LKR 3.9.
Investing carries inherent risks. Please Do Your Own Research (DYOR).
Long
TKYO X sitting on Daily Support2H chart indicate RSI near oversold. Daily chart show the share price has dropped towards 20EMA band. A bounce towards 55EMA would be closer to 43 with quarterly results are expected in middle of May. A bag of Cement price increase by Rs 100 will be help improve the margins. It is also expected the company to commence operations in the upgraded grinding mill in early part of Q2/2024 and after initial phase of testing, commercial operation to commence hopefully after 2H2024. Upon successful commencement of production, the Co will increase installed capacity to 4mil MT annually from 3mil MT. The upgraded grinding mil is expected to give a distinctive competitive advantage to the company over its competitors. Also lowering the need to import critical RM procurement thus lowering the FX exposure. This would enhance GP going forward. Weekly support is between 40-39.5
Long
LOFC.N0000 : LOLC FINANCE PLC - Breaking of Cup & Handle PatternFundamentals
* LOFC Earnings & Net Assets were dropped due to the acquisition of Commercial Leasing and LOLC Development Finance under non-bank financial sector reforms in Sri Lanka. (Due to an accounting treatment - Merger Reserve of negative LKR 262.9 billion, not an operational loss)
* With the economic recovery of Sri Lanka LOFC had reported 2 consecutive Qs of solid earnings growth
* Forward EPS 1.24, FWD PE 5
* Due to negative merger reserve company will enjoy tax advantages
Technical Analysis (Chart Patterns)
* On 1st March 2024 LOFC.N0000 broke the descending wedge pattern. Pattern Target LKR 7.20.
* On 19th April 2024 LOFC.N0000 broke the Cup & Handle formation. Pattern Target LKR 8.30.
* For confirmation 19th April 2024 candle should close above LKR 6.20.
Long
AAIC.N0000Next Resistance level - 75
Support level 64
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
CFVF.N0000Next Resistance Level - 20
Support Level 33
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
Commercial Bank of Ceylon PLC: Potential Upside Ahead
Title:
Commercial Bank of Ceylon PLC: Potential Upside Ahead
Greetings, Traders!
🌟 Hello everyone,
The Commercial Bank of Ceylon PLC, a prominent player in the Sri Lankan banking sector, shows promising signs of further upside potential.
$CSE:COMB
Key Observations:
- As a leading commercial bank in Sri Lanka, Commercial Bank of Ceylon PLC has a strong market presence and a solid track record.
- Recent market analysis suggests that there may be additional upside potential for the stock, making it an attractive opportunity for traders.
- Traders are closely monitoring the bank's performance and market dynamics, anticipating favorable developments that could drive the stock price higher.
Technical Analysis:
Technical analysis of Commercial Bank of Ceylon PLC's price chart indicates positive momentum and bullish signals. Key technical indicators support the notion of further upside potential.
Fundamental Factors:
In addition to technical analysis, fundamental factors such as the bank's financial health, earnings prospects, and macroeconomic conditions in Sri Lanka contribute to the potential upside for Commercial Bank of Ceylon PLC.
Trading Strategies:
Traders may consider adopting a bullish stance on Commercial Bank of Ceylon PLC, with strategies such as buying on pullbacks or breakouts. However, it's essential to employ proper risk management techniques to mitigate potential downsides.
In Conclusion:
With its strong market position and favorable market conditions, Commercial Bank of Ceylon PLC presents an enticing opportunity for traders seeking potential upside. Keeping a close eye on both technical and fundamental factors can help traders make informed decisions.
Engage with Us:
🟢 If you find this analysis insightful, please give it a LIKE.
🟡 Don't forget to FOLLOW for more updates.
🔵 SHARE with fellow traders who might benefit from this information.
🔴 Feel free to COMMENT with your thoughts and insights!
Your active participation enriches our trading community, fostering knowledge exchange and collective growth. Share your feedback and ideas in the comments below or by boosting this post.
Looking forward to connecting with you in the next post.
Happy trading!
Long
#CSELIOCTypical #WYCKOFF accumulation phase. A clean break out with potential to form the next mark up phase.
Long
CSELIOCThe share looks to be in the final stage of marking its sign og strength and readying to breakout of its long consolidation range between 100-115 levels. We observe strong interest building up if we see the recent volume bars. Strong correlation that increase volumes attractive with higher prices.
COCR.N0000Wait for pullback to 30
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
EXPO.N0000 - How to buy and sellBuy and Sell zones mentioned in the chart.
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
ELong
BIL.N0000 - Strong Support, Buy and Sell ZonesIf you missed the chance to buy BIL less than 5, you can wait for a pullback to buy zone in the chart.
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
WATA.N0000Buy Zone - 70 to 75
Target - 85+
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
ELPL.N0000Entry Point: 85 - 90
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
SLT.N0000Forming a triangle pattern in daily chart. SLT is also protecting in 200EMA line.
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Long
MARA.NThis chart and analysis are not financial advice. Do your own research before trading or investing.
Disclaimer: This is just an idea, not financial advice.
Here's why some people might be interested in MARA.N:
Trading activity is high: There were a lot of shares traded recently, which can signal interest from investors.
Industry is hot: Tourism is picking up, and hotel stocks might benefit.
Why some investors might be bullish on MARA.N (optimistic about the price going up):
Support levels: The stock price has recently held steady around $2.90-$3.00. This is a good sign because it suggests there are buyers willing to step in at that price.
Past resistance turned support: The stock price used to have trouble going above a certain level, but now that level might actually act as a floor instead.
Technical indicator: A technical measure called the 50-day moving average is also trending upwards, which some traders use as a sign of potential future growth.
Breakout pattern: The stock price might be about to overcome a recent obstacle, which could lead to a price increase. There could be a gain of around 25%, but the price might fluctuate some before going up.
Potential roadblock:
Resistance level: There could be difficulty for the price to break above $3.50-$3.60 in the near term.
Remember: This is not financial advice. It's always a good idea to do your own research before investing in any stock.
LMF BuyBetter to buy a chunk of LMF around current price 25.30 LKR (Now) as price is breaking out from the support zone 21.90 - 24.10 LKR and also breaking previous higher candle body price of 24.50. If you're buying new, better to buy 30% of the planned share amount, thinking of DCA if the price gets dropped. DCA buying plan is as follows.
25.30 LKR (30%)
20.00 LKR (33%)
17.50 LKR (37%)
Long
SAMP.NThis chart and analysis are not financial advice. Do your own research before trading or investing.
01. Cup and Handle Pattern:
The white line represents a pattern called the "cup and handle," lasting about 130 market days.
This pattern is considered strong and reliable in technical analysis.
02. Volatility Contraction Pattern Setup:
The yellow markings indicate a setup called the "volatility contraction pattern."
This setup aligns well with the three fundamental aspects of the pattern.
03. Grey Dashed Line as Pivot Point:
The grey dashed line signifies a potential pivot point.
To the left of this line, there's a noted area of overhead supply, highlighted in red and spanning 22 market days.
Despite this, the Volatility Contraction Pattern has extended for 147 market days, suggesting reduced overhead selling.
Daily stock volumes are decreasing without significant price movements.
Importantly, there's a 5.85 dividend from the company, making the estimated price from the pivot point $79.90 (calculated as $74 + $5.85).
This leads to an assumption that there might not be much overhead supply in that area when reached.
In simpler terms, the analysis suggests a strong and reliable pattern in the stock, a setup indicating reduced market volatility, and the potential for less selling pressure at a certain price level due to factors like dividends. Remember, this is just one perspective, and investing always involves some level of risk.
