Thursday, 12 August 2010

Chart - SoundGlobal

The chart of Sound Global looks extremely bearish with a critical support at 73 cents. The 2nd quarter profits fell short of expectations due to dual listing expenses incurred. DBS lowered its target price to $0.84 (from $1.20 previously) and the $0.84 was based on 12x historical PE average!

A break of 73c support will likely see it heading towards the 65c levels.

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