TECHNICAL ANALYSIS
Downtrend
Breakdown: the bears are maintaining control with price open, high, low and close being below yesterday's levels.
Support: the support price is hovering at the 65.50c level. Volume traded at the fragile support price zone was 0.2 times average during the three occasions when the support price was breached. In the last three months the first low was at 65.50c on Apr 19, the next at 66.0c on Apr 18. The third decline halted at 66.50c on Apr 26.
Resistance: previous rallies have been met with resistance at 85.0c. However, selling pressure at that level has been weak; volume was 0.1 times average during the eight occasions when the resistance price was breached in the last one month. In the last one month the highest was at 85.0c on Jul 08, the second highest at 85.0c on Jul 04. The third advance halted at 84.50c on Jul 11, the 4th at 84.50c on Jul 07 and the 5th at 84.50c on Jun 30.
PRICE VOLUME DYNAMICS
Volatility: the stock traded between an intraweek high of 84.50c and a two-week low of 81.0c.
Volume and turnover period: there were 2,458,000 shares worth SGD2 million (US$1.7 million) traded. The turnover rate in the 12 months to date was 188.6% (or a turnover period of 6 months). This average length of ownership of the stock at 0.6 times the average holding period of 11 months for stocks in the FTSE/ASEAN Index suggests a slightly larger number of speculators on the share register, making it less safe for long-term investors.
% Discount to high: the last price is at a discount of 9.9% to the 12-month high of 90.50c.
Volume weighted price (VWP): the price is about the same as its 3-month volume weighted average price of 82.70c.
Moving average price (MAP):
Falls to Rises: In the last six months the number of rises outnumbered falls 16:9 or 1.8:1.
TREND IN VOLUME WEIGHTED PRICE
The Volume Weighted Price (VWP) is the summation of turnover [or price at which shares were sold times the volume of shares] divided by the total volume and represents an average based on turnover of all transactions over the period. In the past week the Volume Weighted Price was 81.87c, down from 83.77c in the previous week. Average daily volume of some 2,074,716 shares rose 0.2% from 2,071,468 shares. The 5-week VWP is 82.40c.
THIS WEEK'S PRICE PERFORMANCE RANK IN SECTORS
The stock is in 2 sectors.
The following index and sectors fell setting the trend for its fall of 3.6% for the week (rank by percentage price change of stock for 1 week;12 months in sector/index in brackets):
Total Singapore Market (rank 314;27 out of 769) which was down 116.6 points or 1.4% to 8,183.7,
Services sector (rank 49;5 out of 114) which was down 121.5 points or 1.3% to 9,087.1,
FTSE/ASEAN 40 Index which was down 72.0 points or 0.6% to 11,077.0
The Services company sector is the 7th largest by market capitalisation out of Singapore's 10 sectors. It is made up of 118 publicly listed companies with a combined market capitalisation of SGD30.5 billion (US$25.1 billion). In 2010 earnings for the sector grew 132.8% compared with those of 2009. The main players in the sector include Genting Singapore, Sia Engineering Company, Hyflux and China Fishery Group.
RELATIVE VALUATION INDICATORS [RVI] TECHNICAL ANALYSIS
Bullish Signals:
- In the Singapore market of 520 stocks traded today, the stock has a 6-month relative strength of 98 which means it is beating 98% of the market.
- The price to 50-day EMAP ratio is 1.01, a bullish indicator. In the past 50 days this ratio has exceeded 1.01 49 times suggesting further upside. The 50-day EMAP has increased to 80.49c. An increase is another bullish indicator.
Bearish Signals:
- The price fell 3.6% in the last week and dipped 0.6% in the last month.
- Compared with the FTSE/ASEAN 40 Index which fell 0.6% for the week, this represented a relative price decrease of -2.9% for the week.
SHAREHOLDER RETURNS
Trailing five weeks: the stock fell eleven times (42% of the time), rose eleven times (42% of the time), was unchanged three times (12% of the time) and was untraded once (4% of the time). The volume was 0.4 times average trading of 53,942,616 shares. The value of SGD1,000 invested five weeks ago is SGD994 [vs SGD1,045 for the FTSE/ASEAN 40 Index] for a capital loss of SGD6.
Trailing thirteen weeks: the stock rose twenty six times (41% of the time), fell twenty four times (38% of the time), was unchanged twelve times (19% of the time) and was untraded twice (3% of the time). The volume was 1.4 times average trading of 130,707,108 shares. The value of SGD1,000 invested thirteen weeks ago is SGD970 [vs SGD1,036 for the FTSE/ASEAN 40 Index] for a capital loss of SGD30.
ISSUED CAPITAL
Based on 275,226,000 issued shares the market capitalisation is SGD224.3 million (US$184.2 million).
ACTIVITIES
Q & M Dental Group (Singapore) Limited is a Singapore-based management and consultancy services and investment holding company. It is a dental healthcare Company with 37 dental clinics, one dental center and one mobile dental clinic. The Company offers a range of dental healthcare services, from primary care dental services to specialist services, such as endodontics, orthodontics, prosthodontics, paedodontics, dental implants and aesthetic dentistry. Its offers a range of services, including Aesthetic Dentistry, CEREC one-day crown, Children Dentistry, Consultation, Crowns & Bridges, Dental Laser, Dentures, Galileos 3D Radiography, General Dentistry, Gum Bleeding Treatment, Gum Surgery, Implant Surgery, Teeth Whitening, Treatment for Snoring, X-Ray and OPG Facilities and Oral Surgery.
Currency Conversion: Singapore Dollar SGD1= US$0.821 [or US$1=SGD1.22]; Against the US$ the SGD was unchanged for the day; strengthened 0.2% for the week; increased 1.0% for the month; added 5.3% in the past year. SGD1 = 100c. Source http://www.dentistryiq.com/index/display/news-display/1458137858.html
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