Manhattan Resources Limited*Official*(SGX: LO2)

[HerbalTeaSeller]

http://www.manhattan.sg/

SGX stock facts: http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=1&code=L02&lang=en-us

Company Description
Manhattan Resources Limited, an investment holding company, primarily provides logistics and other support services to the coal mining and oil and gas industries. The company’s Shipping segment is involved in ship chartering and barging services; and the provision of freight services primarily for coal carrying activities. This segment operates a fleet of approximately 60 tugs and barges. Its Property Development segment engages in property development activities in China. The company’s Mineral Resources segment engages in mining mineral resources. This segment holds mining exploration permits covering an area of 26.99 square kilometers in Xinjiang, China. The company’s Corporate and Others segment engages in investing in properties, as well as offers overburden removal and equipment leasing services. The company also owns and operates a coal-fired steam power plant in East Kalimantan, Indonesia. It has operations in Indonesia, Singapore, and China. Manhattan Resources Limited was incorporated in 1990 and is headquartered in Singapore.

I think some had missed out this company as it is related to commodity. Commodity had ran up a quite a bit, but this is one of the laggards.

Fundamentals quite decent in my opinion, I believe this year result would be better as commodity price had recovered about 50%.

Technical wise, looks like there is a bullish divergence, signals a potential bull run. I am looking to TP at 0.34, possibly a multi-bagger. IMO this year mainly commodity stocks will run due to recovery as we are still in the early phase of recovery with steady advances & increasing activity and improving business condition. We had seen many junk stock perceive by many that had already ran up. Am I vested? Yes. Technical analysis not 100% accurate but it serves as a guidance when to enter.

Bullish Divergence:

Spoiler

Using Fibonacci to find exit.

 

[HerbalTeaSeller]

Longer term view, descending wedge formation, possible might run up to 0.78

DYODD.

 

[Weaboo]

thanks for the analysis

 

[Perisher]

Wait for breakout first.

 

[HerbalTeaSeller]

Wait for breakout first.

Close above 10cents considered breakout anot? Today up 14%.

 

[HerbalTeaSeller]

Oh no, it closes at 0.095. Maybe I wait until 0.08 then hoot

 

[useless]

Queue at 0.091 but didnt get.
If never drop to 0.08 how? Will consider buying at 0.09?

 

[[M]aiev]

what is ur stop loss level ? previous low ah?

 

[HerbalTeaSeller]

what is ur stop loss level ? previous low ah?

0.058.

Arbo you wait until breakout then hoot? LOL

 

[HerbalTeaSeller]

Queue at 0.091 but didnt get.
If never drop to 0.08 how? Will consider buying at 0.09?

Can lah, just don't queue too high, sellers eventually will come down one

Those cunning ******s from UBS

 

[useless]

Can lah, just don't queue too high, sellers eventually will come down one

Those cunning ******s from UBS

Thank you for the advice 师夫. Tml will queue at 0.08

 

[Mancunian2]

Close above 10cents considered breakout anot? Today up 14%.

no volume, too easily manipulated

break 10 cents also not necessarily real breakout

 

[HerbalTeaSeller]

no volume, too easily manipulated

break 10 cents also not necessarily real breakout

True lah. Waiting for people to manipulate this one to 70cents

 

[HerbalTeaSeller]

Thank you for the advice 师夫. Tml will queue at 0.08

Don't contra hor, bear in mind, you might face liquidity risk on this.

 

[HerbalTeaSeller]

Up 10% oredi