PARKSON the only counter move down when other are moving up? why ,because of it NTA of about RM2.46 or as of it poor earning ?
From daily chart 3.70 should have support. Grampi Sdn Bhd seem to be related to Lion Group dispose of 225 m shares. May be this is the way the buyer press down the price then collect more stock. I did not look at their financial performance ...also not sure how is their oversea performance in Vietnam and China..As for Malaysia in my town here..the last month and this month they have this promotion..You purchase rm300 get rm100 voucher . It is a great deal .Not sure if they are also having this spendid promotion in other places in Malaysia..If it is I think business is really bad that is why they need to come up with this deal.
Parkson likely will have SHOR-TERM rebound and need to look for reversal signal, but seems unlikely above rRM4
Fr previous quarter report, we can see that China contribute around 66% of the profit...can say that Parkson drop is due to the concern abt China, due to the new president Xi JinPing implement a lot of new policy that "indirectly" affect Parkson. tongue emoticon
Actually Parkson still continue to expand in Asia, 2011-2012...its department store operations in China increase from 46 to 54, 36 to 38 in M'sia, 7 to 8 in Vietnam, 6 to 8 in Indonesia....
Whatever its, Parkson still a net cash company, book value at around 2.5....if Parkson comes to the price of RM3, personally think its worth to take a look because its always trading at premium and the dividend will be attractive.
Had said from earlier chart movement had shown it should move south and also not mean you have this counter ,just try to tell most of the people like to put an outside reason onto the chart movement , this is not a good way to analysis chart .
To put blame on outside reason for the chart was just 1. the big boy try to use this reason to press down the price.2. Those who do really know how to read chart use a reason to tell you why the price was down. And, don't forget. Xi Jin Ping is implementing very good policies. He knows that China is growing too fast, he knows that the development is not even throughout China. If the setback causes Parkson earnings to drop, it could still lead to more setbacks in Parkson prices. Everything will be proven this coming week when Parkson reports its earnings.
Saturday, May 18, 2013
