NOL net loss narrow down to US$98 million!

On 14/May, Singapore shares end lower Friday as worries heightened on the impact for the economics in euro-zone as the leaders take measures to reduce the swelling fiscal deficits.

STI ended 12.71 points (0.4%) lower at 2855.21 with VERY LOW VOL of 1.25 billion shares traded compared with 1.68 billion Thursday. In the broader market, losers outnumbered gainer 283 to 173. Today STI drifted in and out of the positive and negative zone with low trading activities throughout the market session before ended red due to worries for the euro debts issues. 

Headline in STI

After market close

ComfortDelGro Corp. (C52.SG) announced that its three month net profit rose 3.4% to S$54.3 million from S$52.5 million a year ago due to higher income.

Fraser & Neave Ltd. (F99.SG) reported that its first quarter net profit rose 89% to S$170.3 million from S$90.2 million a year earlier due to strong property revenue and higher demand for the group's consumer goods. 

SIA Engineering Co. Ltd. (S59.SG) announced its first quarter net profit rose 12.8% to S$73.9 million from S$65.5 million a year ago due improvement in travel demand and increase in flights at Changi airport.

Neptune Orient Lines Ltd. (N03.SG) said that its net loss for the first quarter has narrow to US$98 million, down from US$245 million a year earlier due to increase in volume for its shipping business 

Important Resistance of NOL: $2.35

Immediate Support of NOL: $2.10

RSI: In bearish zone of 47%

MY sentiment on NOL: Today this counter closed at $2.14 with extremely low volume and displaying “shooting star” for two consecutive days indicating that there is a slow down of momentum. Currently this stock is supported at 20 days moving average & traditional support of $2.1, thus we would recommend profit taking once they are broken.