I was given a heads up that Wah Seong (Waseong) had fallen drastically today.
Here's a snapshot of how Waseong traded half an hour ago.
What intrigued me was that I had just received a copy of KN report on Wah Seong a couple of minutes earlier!
Here's a snapshot their report.
Note the price marker put on the report. Trading Buy at 3.06.
Hmm... I found it so strange that KN decided to publish a report on Wah Seong after the stock has fallen some whopping 46 sen (Waseong opening reference price for today was 3.52) in the midst of trading day.
And what's more amazing was the Trading Buy price target is at 3.44. A price which is below today's opening reference price!! Hmm... a Trading Buy?
How?
Tuesday, February 19, 2008
KN report on Wah Seong
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3 comments:
hi moola, do you have any opinions on Wah seong? I think it's oversold as I still like their business, was wondering if you have any thoughts??
Sahamgurl,
Hi there again.
I am not a fan of Wah Seong. The margins are way too thin for my liking and Wah Seong has not shown it has a strong earnings track record at all.
Regarding being oversold.. there's always a huge risk in assuming that a stock is oversold.
Last but not least... are you really interested in Wah Seong's business itself or are you attracted because the drop in the share price? Rather critical because not all drop in share prices equates to a buying opportunity.
Hope my second opinion helps.
rgds
thanks moola! Sigh, prob is that I own it..I think I'm going to wait a bit, then sell it..
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