AEL Technical Analysis
- NIRMALSG
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Re: AEL Technical Analysis
https://cdn.cse.lk/cmt/announcement_portal_prod/Access%20-%20Sale_8516184717902284.pdf
hammurabi wrote:NIRMALSG wrote:Be careful about these movements specially for short term traders, just feeling bad quoter for AEL. But still its valuable opportunity for long term perspectives.
Access Engineering (AEL) director sells Rs400mn worth of stock
June 22, 2019 (LBO) – Colombo Stock Exchange (CSE) listed Access Engineering (AEL) in a stock market disclosure reported that a non-executive director had sold a significant amount of his shares.
Ranjan Gomez has sold 30,000,000 shares at a price of Rs13.2/share. Total proceeds from the sale of shares is approximately Rs400mn.
As of March 31, 2019, Gomez had reported a total shareholding of just over 75,000,000 shares. The insider sale is roughly 40% of his total holdings. Gomez has been a seller of significant amounts of stock over the years, however this recent large sale is at a strikingly low price.
As of March 31, 2019, AEL reported a net asset value of Rs21.4/share. Gomez’s sale at Rs13.2/share represents a valuation of just over 60% of book value.
AEL’s last quarterly results were solid reporting net income of just under Rs700mn for the quarter, however the construction industry is being badly affected by the recent economic downturn.
Most stocks on the CSE are trading at low valuations due to a confluence of negative catalysts which include a slowing economy, a constitutional crisis, and one of the worst incidents of global terrorism in recent history.
Did he cross it at 13.20??? Friday?
- NIRMALSG
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Re: AEL Technical Analysis
Since Presidential election coming soon we could see more positive movement on this with the market upward trend.
Statistically also it have the potentially of going further more
Net assets value per share LKR 20.78
Earnings per share LKR 3.07
- BackstageTop contributor
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- The Invisible
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Re: AEL Technical Analysis
- The Invisible
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- BackstageTop contributor
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- The Invisible
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Re: AEL Technical Analysis
- HUNTERTop contributor
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Re: AEL Technical Analysis
Backstage wrote:Anyone got a tech chart on AEL ?
Noticed the thread accidentally.
14/- looks the short term support level.
If it holds above 14/- this week, may reach 18.40 within next month.
18.50 will be a harder resistance; may pull back to 16/- levels after 18.50
Please note:
(I am not the controlling god of the market, all above are calculated technical fantasies only. So make your own judgement if buying or selling)
- HUNTERTop contributor
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- BackstageTop contributor
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- The Invisible
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Re: AEL Technical Analysis
Backstage wrote:Thanks Hunt. I do wish you were the controlling god of the market.
Or will it be Corona
- pathfinderTop contributor
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Re: AEL Technical Analysis
Most of charts looks same across the CSE in a situation like this.We saw such a market in 2009 after the war.Whatever bought at the sell off make you profit.When first wave of profit taking starts things will be changed.
For the time being I consider AEL as a trading share only.Last available quarter report of December 2019 shows significant revenue drop,March and June too won't be much difference.
But as we know it moves on speculation on a political changes,If their favorable color get majority,AEL will have a good move.If someone wants to enter use support lines provided by Hunter and with cautious, knowing what drives it.
- The Invisible
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Re: AEL Technical Analysis
Agree. AEL is driven by sentiments and speculation on future proceedings. If someone can collect in big only it can move forward.pathfinder wrote:Thanks Invi and Hunter for charts.
Most of charts looks same across the CSE in a situation like this.We saw such a market in 2009 after the war.Whatever bought at the sell off make you profit.When first wave of profit taking starts things will be changed.
For the time being I consider AEL as a trading share only.Last available quarter report of December 2019 shows significant revenue drop,March and June too won't be much difference.
But as we know it moves on speculation on a political changes,If their favorable color get majority,AEL will have a good move.If someone wants to enter use support lines provided by Hunter and with cautious, knowing what drives it.
- HUNTERTop contributor
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Re: AEL Technical Analysis
Backstage wrote:Thanks Hunt. I do wish you were the controlling god of the market.
If you wish, you may call me so now.
- BackstageTop contributor
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Re: AEL Technical Analysis
HUNTER wrote:Backstage wrote:Thanks Hunt. I do wish you were the controlling god of the market.
If you wish, you may call me so now.
OK if it goes over 19/= I will buy you a packet of Lemon Puff as an offering to the CGOM.
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- The Invisible
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Re: AEL Technical Analysis
- HUNTERTop contributor
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Re: AEL Technical Analysis
The Invisible wrote:This is for Path & Hunter,
Based on current charts, be it daily or weekly, can't you see a trend reversal and the stock seems to be consolidating between 17 - 18. I am not a good one to interpret charts but I am getting curious that a trend is forming towards 19 or 20. Here is the daily chart.
In Summary: I think AEL will move just above 19 and pull down a little.
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Explanation:
@ Invisible,
These days, I do not use much indicators such as RSI, MACD or even MA crossings.
Partially due to their lagging nature and partially due to lack of enough liquidity in most of the shares in CSE. (May be partially due to inherent laziness )
However, being a liquid share, I dare say, some indicators might work for AEL.
Sometimes, I might use Elliott waves, Fib ratios and price momentum for level estimation, depending on the nature of the share.
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My estimation is; Based on ongoing momentum and Elliott waves, AEL might reach 19.40 (as far as the price stays above 16)
However, I do not still see enough momentum to carry it above 19.50 at this phase.
- pathfinderTop contributor
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Re: AEL Technical Analysis
- HUNTERTop contributor
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Re: AEL Technical Analysis
Backstage wrote:HUNTER wrote:Backstage wrote:Thanks Hunt. I do wish you were the controlling god of the market.
If you wish, you may call me so now.
OK if it goes over 19/= I will buy you a packet of Lemon Puff as an offering to the CGOM.
Lemon Puff විතරද තියෙන්නේ?
- Senarath67
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Re: AEL Technical Analysis
- HUNTERTop contributor
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Re: AEL Technical Analysis
Senarath67 wrote:HUNTER, As you have mentioned on 11 th June, is the momentum building up to take this above 20 before the elections?
The momentum continues. So, there is some possibility.
Anyway, as a trader, I might exit below 20.
And enter again after the dust settled; probably above 20 or near 16.
Or consider some day trading near 20
කිත්සිරි ද සිල්වා and Senarath67 like this post
- The Invisible
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Re: AEL Technical Analysis
ECONOMYNEXT- The Cabinet has decided to revoke all the agreements signed with foreign contractors relating to the construction of the ‘Ruwanpura’ expressway signed by the previous government, said Co-Cabinet Spokesman Bandula Gunawardena.
The Ruwanpura Expressway will run from Kahathuduwa to Pelmadulla with interchanges at Ingiriya and Rathnapura, the expressway covers a distance of 76 km.
He said that the project which was originally started back in 2014 under President Mahinda Rajapaksa was given to foreign contractors by the previous government with high costs.
Gunawardena said the cabinet has decided to start the work of the expressway by means of using only local loans as funding and handing the construction work over exclusively to local contractors.
By doing so, he said that the government intend to provide more opportunities to local contractors and stop the flow of money out of the country.
Further, he said that engineers have estimated that by constructing the expressway through local contractors would reduce overall costs compared to handing the work to foreign contractors.
Accordingly, Gunawardena said that the government will split several sections expressway with each section amounting to 6-10 Km and handover the construction of the expressway to 10 main local contractors where those contractors will further split their section and handover work to small scale, local contractors.
He also added that President Gotabaya Rajapaksa has informed the subject Minister Johnston Fernando to commence the construction work and complete the section from Kahathuduwa to Ingiriya before the end of this year. (Colombo/July2/2020)
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- HUNTERTop contributor
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HUNTER wrote:Senarath67 wrote:HUNTER, As you have mentioned on 11 th June, is the momentum building up to take this above 20 before the elections?
The momentum continues. So, there is some possibility.
Anyway, as a trader, I might exit below 20.
And enter again after the dust settled; probably above 20 or near 16.
This time, near 16 looks realizing.
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- BackstageTop contributor
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Re: AEL Technical Analysis
Backstage wrote:
HUNTER wrote:
Backstage wrote:
Thanks Hunt. I do wish you were the controlling god of the market. Rolling Eyes
If you wish, you may call me so now. Laughing Laughing Laughing
OK if it goes over 19/= I will buy you a packet of Lemon Puff as an offering to the CGOM.
Lemon Puff විතරද තියෙන්නේ?
Haiyyo , I missed that over 19 push as I was out of action due to an accident, logged in to market only a few days ago, sold half my AEL at 18 as I needed immediate cash. Now waiting.... Will give you a Lion beer with the Lemon puff.
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