Then...16 Jan 2014, Richest coffee takeover in Asia seen with Super Group...Super Group may be the best takeover option for beverage companies anxious to corner a piece of Asia’s expanding instant-coffee market, as long as they’re willing to pay up...Super’s profit may rise 11% in 2015 to $108.8 million, according to analysts’ forecasts...The founders of Super are unlikely to sell for a price as low as $5 a share...
7c XD on Friday 9 May 2014, Bonus 1 for 1 on 26 May 2014. Super Group Ltd. will be announcing its unaudited financial results for the first quarter ended 31. March 2014 on Monday, 12 May 2014. Diamond chart pattern is rare yet SuperGroup has 1+1. Should the last low @ S$3.03 scored on 13 Nov 2013 break down lower low convincingly with extremely high volume equal and/or > the one dated 13 Nov 2013, expect double strong selling pressure like 2 giant rocks falling off a cliff. SuperGroup's chart pattern reminds me of Zhulian; uptrend is broken, expect more downside than upside.
Shares issued: 557.5m Free float: 24%
SuperGroup — Bearish Diamond Top Breakout, Interim TP S$2.34, next TP S$2.09
SuperGroup closed with a long black marubozu @ S$2.95 (-0.28, -8.7%) with extremely high volume done at 6.9m shares on 14 May 2014.
Immediate support @ S$2.72, immdiate resistance @ S$3.03.
SuperGroup has just suffered a "heart attack". It has now broken the lower channel with a big bang. But the bonus is attractive enough for retail investors to pick up the bids and pieces last Thursday while the BBs stayed clear of it. Is it right time to follow? It will be hard to tell at present but one would know one would be catching a falling knife if price continues to fall and the limit of the rise would be around 3.11, the lower channel line.. which is a few % up. Is it worth the effort? Will leave it to the readers to figure out. Quite sure the BBs will stay clear until the price broke 3.11.
Note: When companies could not boost their share price thru healthy & sustainable earnings/economic growth and innovations...instead boost their share price thru share buybacks, bonus issues, rights issue, stock consolidations/splits, warrants issue, etc...these are creative deals which do not have fundamental value or basis = strong signal that the share price may be due for a steep decline.
SuperGroup — The major "Cheng Kay" + the gatekeepers have already run road on mid-Nov 2013
Chart gave ample warning signs of an impending tsunami yet plenty of silly bulls still went to pick the worthless seashells on the beach.