Strategy
Price braking out from post rights consolidation.
- CITH consolidated around LKR 4.10-4.30 with relatively very high volumes
- Now breaking out from the consolidation area
Technical Analysis (Chart Patterns)
* Currently CITH is making a Reverse Head & Shoulder pattern break out with a re-test
* Printed a 20/50 MA cross
* On 20th June 2024 CITH closed above 150 MA with volume
Potential Pattern Targets
* Pattern target LKR 5.80
Fundamentals & business outlook
* Post rights NAV is about LKR 9.80
* PBV 0.46
* About LKR 650 M of rights issue funds will be utilized to reduce debt
* Q4/2024 EPS LKR 0.31
* As interest rates of the country is falling, interest burden of the company is reducing drastically
* Tourism arrivals are continuing to grow
Speculative Points
* WHAT MIGHT BE THE REASON MANAGEMENT DECIDED TO SETTLE INTERCOMPANY LOANS IN THE GROUP?
* WILL CITH DISPOSE IT'S HOLDING IN CLND (Colombo Land PLC)
Price braking out from post rights consolidation.
- CITH consolidated around LKR 4.10-4.30 with relatively very high volumes
- Now breaking out from the consolidation area
Technical Analysis (Chart Patterns)
* Currently CITH is making a Reverse Head & Shoulder pattern break out with a re-test
* Printed a 20/50 MA cross
* On 20th June 2024 CITH closed above 150 MA with volume
Potential Pattern Targets
* Pattern target LKR 5.80
Fundamentals & business outlook
* Post rights NAV is about LKR 9.80
* PBV 0.46
* About LKR 650 M of rights issue funds will be utilized to reduce debt
* Q4/2024 EPS LKR 0.31
* As interest rates of the country is falling, interest burden of the company is reducing drastically
* Tourism arrivals are continuing to grow
Speculative Points
* WHAT MIGHT BE THE REASON MANAGEMENT DECIDED TO SETTLE INTERCOMPANY LOANS IN THE GROUP?
* WILL CITH DISPOSE IT'S HOLDING IN CLND (Colombo Land PLC)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.