– Fair value:
– EY%: 4.45 – 6.91
– With orderbook stands at RM9b with a burn-rate of approximately >3 years, looks like ARMADA is a good buy. I believe that FY13 results will be outperform as well.
– By looking at price chart, 4.08 – 4.16 is a very strong resistance zone. The positives are:
– 3.5 – 3.7 is a very strong support zone.
– Spotted 4 higher lows.
– In the next few days, I will check out few more O&G companies. As of now, ARMADA is a good choice, and I will most likely buy it in the next few days.
Latest Financial – Q3 2013 Financial Report (20 Nov 2013) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1466961
At the time of writing, I did not own shares of ARMADA.