Thoughts
So quickly the lull periods of december are over! though workload is picking up, i am pretty excited with the market movement. it has been bullish lately, triggering many of my trade plans that i did up, but did not execute because i was too occupied at work! luckily, i managed to catch a counter on my 4pm stock scan!
Action
Frasers cpt. BOUGHT for capital gain and income. Overall the counter is bullish biased (price abv 200ma), gives decent dividend ~4% in sustainable manner (good buffer from EPS) and is slightly below 1 is price/book ratio(0.875). market outlook for property is good, so i was doing TA for a number of property-related counter.... Frasers Cpt was one of them that i managed to catch.
TA-wise, what attracted me was the consolidation between 2.04-2.1 price range since end Sep 2017 that formed a nice price support before the last few days of bullish rally that pulled price abv 50ma convincingly. well of course this is not yet abv the recent high of 2.17, but i gave me conviction to go in as my first trade-investment for 2018!
In my investingnotes, my target price was p/e of 15 which is a price of about $3.2, sounds like a moonshot, but i will keep scaling up as long as it trends well (of course sticking to my scaling up rules).
Current holdings are
Income. Mapletree GCC; Suntec; starhub; global investments
Cap Gain. AEM; Golden Agri
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