ARMADA above $4.50 by 31-Aug-2012

  • target price: $4.50 ( 10.84 % in 123 days)
  • price when predicted: $4.06
  • current price: $0.72
  • 1876 days pass target date.
Fundamentally, nothings changed as far as Armada is concerned. Earnings are all on track. Technically oversold due to major shareholder and a couple of bumiputra investors selling down a stake to private placements. Selling parties still maintain 55% shareholding after stake sale.
TP RM4.80 still intact.
Good opportunity to buy-in.
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