Thursday, 25 August 2016

NAM CHEONG - OVERSOLD TERRITORY WITH UPSIDE POTENTIAL

Nam cheong is totally different from SWIBER given its exclusive OSV market in MALAYSIA which is heavily dependent on oil with PETRONAS state own companies. It does not have any MIDDLE EAST Risky exposure.
 
We see NAM CHEONG as being in an oversold territory with chart pattern pointing to a potential upside towards 7cents. It is clearly trading 200% Discount to its NAV of $0.1525 or RM$0.609. BBs have been accumulating and trying to break out of the trading range $0.053.
 
 
 

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