Chip Eng Seng Corporation Ltd (SGX:C29) HEFFX Highlights

Chip Eng Seng Corporation Ltd (SGX:C29) HEFFX Highlights

Chip Eng Seng Corporation Ltd (SGX:C29) HEFFX Highlights

  • Singapore-listed property investor and developers Roxy-Pacific Holdings and Chip Eng Seng Corporation have jointly acquired a New Zealand A-grade office building at 205 Queen Street, Auckland, for $NZ174 million ($162 million), at a net yield of 6.3 per cent.
  • Roxy-Pacific and CES have an equal 50 per cent stake in the prime 25.361-square-metre twin commercial towers in the heart of the Auckland CBD. The 17-storey and 22-storey towers and a retail podium sit on a 3764 sq m site close to public transport and the upcoming City Rail Link Aotea Station.
  • The property boasts large floor plates and is 96.37 per cent leased. It has a lease term until 2081 with options for another 98 years.

Chip Eng Seng Corporation Ltd is an investment holding company. The Company is a property development and construction company. The Company’s core business is primarily in the areas of property developments, property investments, construction and hospitality. Its segments include construction, property developments, property investments, hospitality, and corporate and others. Its construction segment is engaged in the business of general building contractors. The property developments segment is engaged in the business of developing properties and management of development projects. The property investments segment is engaged in the business of leasing out of investment properties and the management of properties. The hospitality segment is engaged in the business of hotel operations. The corporate and others segment includes corporate services, treasury functions and investments in marketable securities. The Company also operates in Australia and Malaysia.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 0.72.

The projected upper bound is: 0.75.

The projected lower bound is: 0.71.

The projected closing price is: 0.73.

CHIP ENG SENG closed unchanged at 0.730. Volume was 40% below average (neutral) and Bollinger Bands were 68% narrower than normal.

Open      High        Low         Close      Volume
0.720      0.730      0.720      0.730      650,900

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       0.73                0.73                0.69
Volatility:                16                    17                    22
Volume:                   942,330         621,606        975,858

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

CHIP ENG SENG is currently 5.0% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of CESE.SI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CESE.SI and have had this outlook for the last 7 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 53.3333. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.56. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 56 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -93. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.

 

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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