Date of Report: October 2, 2024
Broker: CGS International
Company Overview
Eversendai Corporation Berhad is a leading construction and engineering company based in Malaysia. The company specializes in structural steel design, fabrication, and erection, and is known for executing complex projects in the oil and gas, infrastructure, and power plant sectors.
Technical Analysis
As of October 2, 2024, Eversendai Corporation has experienced a decline in its stock price, falling from the entry price of RM0.580 to RM0.530. This represents a notable short-term loss, though the stock remains a part of the actively managed portfolio.
Stock Position
- Entry Price: RM0.580
- Current Price: RM0.530
- Stop Loss: RM0.505
- Target Price: RM0.655, RM0.70
Investment Strategy
Eversendai Corporation accounts for 7% of the actively managed portfolio, with 172,400 shares. Despite the recent decline, the stock is still marked as a “Buy.” Investors are advised to hold their positions, as the long-term strategy focuses on recovery and the potential to reach target price levels. The current stop-loss level is set at RM0.505 to manage risk.
Performance Overview
As of the report date, Eversendai Corporation has registered a loss of 8.6%, translating to a paper loss of RM8,620. Despite the setback, the stock remains within risk tolerance levels, and the portfolio managers are maintaining their position in anticipation of a price rebound.
Conclusion
Eversendai Corporation has faced short-term price pressure, but the long-term outlook remains positive. The stock is expected to recover, with investors advised to stay in their positions while keeping an eye on the stop-loss level.
