On 16 May, RHB Singapore reported Spackman in their Result Review report following 1Q17 results announced on 15 May. The following summary extracted from the report.
"Spackman returned to profitability with a 1Q17 PATMI of USD5.4m (1Q16:USD1m loss). This was mainly due to the earnings recognition of its blockbuster movie, Master, as well as a USD3m gain from the disposal of 497,250 SMG shares as part of the consideration for its latest acquisition. Going forward, we expect its next movie - Golden Slumber, set to hit the big screens in 2H17 - to boost earnings further. As it is trading at a much lower valuation (10x FY17F P?E) vs local peers and has a positive outlook, we maintain BUY with a SGD0.27 TP (72% upside)."
Based on the above daily chart, S-Trader System showed the current price action in downtrending phase. Bear very much in control. With the closing price on last Friday, 7 Jul, is much lower than 16 May price - it's worth to keep an eye for bullish reversal on the price action during the next movie release.
Note : S-Trader indicators/tools is not part of Metastock software package. It is our proprietary system/tools. If you have any further inquiries, please feel free to Contact Us.
Source :
1) Metastock
2) RHB Singapore
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