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GLP – Possible Inclusion Into FTSE ST 30 Index Components
Corporate Digest | 09 March 2011
Related stocks:
MC0
By: Charlie Lau Suan Liat
Articles (27) Profile

Fundamental Review

GLP [Global Logistic Properties] may be included in the 30 Straits Times Index components to be revented on 18th March 2011. [SMRT may be displaced.] — Nomura Research.

GLP was listed on 18th October 2010 trading between $2.19 and $2.13. Its IPO price was $1.96.

GLP holds 17.4% of its properties in China and 82.6% in Japan. In the 1Q11, it returned to profitability with an increased revenue of 15% inclusive of revaluations and forex gains in the Chinese yuan & Japanese yen. Profit for the 1Q11 was US$561m.

View Full-sized Image
GLP technical chart - 8 March '11
GLP technical chart – 8 March ’11

Technical Review

GLP’s share price has been on downtrend since listing on 18th October 2010. The all-time Lo was on 28 February 2011 at $1.87. First week of March 2011 saw the share price inching up to $1.94.

As seen in the chart GLP closed 8 March 2011 at $1.92. The 14-day Relative Strength Indicator & the 5-day Stochastic Momentum, both turned up. The first target up should be at the trend line Resistance is $2.04. After that, GLP would test the other previous Hi’s — $2.13 & $2.21 & $2.26. Downside Support is at $1.87.

The daily traded volume is between ten & twelve million shares. Anything above that should be interpreted as interest in the counter.

Veteran remisier and highly sought after speaker in the investment field, Charlie Lau is well known for his invaluable investment strategies.

Please click here for more information about this author.

Global Logistic Properties  2.710 -0.06 -2.17%   
Business: [FY14 Geographical] Japan (38.7%), China (60.1%), Brazil (1.2%).

Insight: Sep-14, Co signed new lease agreements totalling 4... Read More

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