LOLC LOLC Daily
This chart and analysis are not financial advice. Do your own research before trading or investing.
BILBIL Daily
This chart and analysis are not financial advice. Do your own research before trading or investing.
HELA APPAREL HOLDINGS - HELA.N0000 (CSE/Colombo Stock Exchange)Strategy
Expected recovery in Garment & Textiles Industry & HELA's 180-degree turnaround strategy implementation
- Cost Reductions
- Capacity optimization (maintaining demand base capacity)
- Benefits from acquiring of Focus Brands Limited
Historical Facts
* IPO Price - LKR 15.00
* IPO Debut price - LKR 22.00
* HELA got affected from garment industry crisis during CY 2023 (Supply Glut)
* 52 Week High/Low LKR 8.60/LKR 4.80
Technical Analysis (Chart Patterns)
* If HELA managed to cross LKR 6.20/6.30 range, if will make a Cup & Handle pattern breakout
* Interestingly from LKR 6.40 to LKR 8.00, there is a considerable VRPV Gap which can provide a volatile move
* 50/100 MA Golden Cross is about to happen
Potential Pattern Targets
* Previously broken multi week descending wedge target LKR 8.00
* About to break C&H pattern pointing towards LKR 8-8.20 range
Fundamentals & business outlook
* Sri Lanka's Garment Industry start recovering during Q4 2022/23
* In the month of March 2024 Sri Lanka's garment & textile exports recorded a YoY growth 6.66%, after > 12-month negative growth period
* HELA's GP margins improved by 8.4% during Q3 (during Dec Q)
* OP & NP margins improved 580 & 220 bps
* Notable cost controls are visible in managing distribution/administration expenses
* One-off value gain from FOCUS acquistion is expected to be recorded in the 4th Quarter results
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.
JINS.N0000 Janashakthi Insurance - Cup & Handle BOBreaking 46 will make a C&H Break Out.
Dividend Pending
* Amount > LKR 5 (JINS can distribute tax free dividend received from CFVF.N0000)
Profit Expectations
* Earnings should be good.
* Majority of BOND portfolio is classified under 'Financial Assets at Fair Value Through Profit
or Loss'. Hence capital gains due to rate cuts will reflect in P&L.
NAV
* LKR 60.64 / PBV 0.75 (All other life insurance companies in CSE are trading above NAV.)
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
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).
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
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.
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.
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.
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.
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#CSELIOCTypical #WYCKOFF accumulation phase. A clean break out with potential to form the next mark up phase.
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.
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.
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.
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.
