Radio Jamaica came into increased buying last week to hit a 52 weeks’ high of $2.58 before pulling back to close at $2.07. The stock shows strong signs of going higher and is the main stock to watch this week.
More buying interest developed for General Accident having posted net profit after tax of $135 million, up 42 percent on the $95.4 million earned in the 2018 period. Pretax profit for the second quarter grew by a stronger 58 percent to $127 from $80 million in 2018. There was no tax change in the second quarter of 2018. The stock price is range bound between $3 and $5.80 but has broken out and should pave the way for a higher price level going forward, some selling around $6.40 could hold back the move higher for a while.
More buying came in for Elite Diagnostic it is unclear if investors are ready to buy out supplies just above $7 in the short term. The stock is poised to move higher with recent signs of improving financial performance. Caribbean Cement has some new buying interest that suggests higher prices ahead, but all of that could well be due to month-end dressing up than real short-term demand. Recent big selling for Jamaican Teas could be over with the near 11 million trade in the second half of last week. Buying interest continues to build that could take the price higher soon.
True Juice orange juice bottled by and distributed Wisynco
One technical indicator is showing Jetcon Corporation’s downturn is over and there is likely to be a big upside for the stock after the company reported in their second results an upswing in sales in June and July over the similar periods in 2018 and that orders for August suggest they will enjoy a much better sales than in 2018. It is not very clear but Honey Bun is on an upswing and could move higher over the next few weeks.
Medical Disposables closed with just one offer of 49,900 shares for sale at $8.80, but buyers may wait out buying until more sellers come with lower offers.
Lasco Manufacturing is hitching to break into the $6 region as more demand has come in for the stock. Wisynco Group came under selling pressure recently with the price moving into the $30 region, technical reading shows it at support around $24 with an upward bias.
The PE ratio for Junior Market Top 10 stocks averages 8.4 and the main market PE is now 10.5. These levels, point to big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular as they lag, the values of the main market by a third.
The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.
