Stocks to watch

Watch Junior Market for break higher

April 1, 2019 by IC Insider.com

Junior Market poised to breakout.

Jamaican stocks are in for an interesting period with Junior Market stocks down nearly 5 percent for the year to date, lagging their main market stocks counterparts that are up 2.2 percent for 2019, but technical indicators now point to a big rally for the Junior Market.
The Junior Market is currently, supported by two major technical indicators, indicating a rising market ahead. One is a triple bottom that it is bouncing off and the other a wedge formation, both indicate a big breakout. The last time the market had a triple bottom was between March and July last year and the market gained more than 500 points.
The Jamaica Stock Exchange main market may be consolidating, but it seems to be making another effort to challenge the record high of 433,307.22 reached by the All Jamaica Composite Index in November last year. With the market closing on Friday at 426,180.60 points, it will require some meaningful price gains to close the more than 7,000 points gap.

Carib Cement traded at $58 on Friday.

For the current week, which stock could contribute to closing of the gap? Buying interest remains good for Carib Cement that moved up by $2 by the close of the week to $58. There is some selling at the last traded price but demand should take this out soon. Radio Jamaica is in demand again with a big increase in the December quarter’s profit that spell positives for the 2020 fiscal year’s results.
Wisynco came in for some selling pressure last week by the close on Friday, the stock ended at $11.95. Going forward the stock is a strong buy with increasing business and improving efficiency in operations and with credible reports that they are in talks with other local producers to distribute some popular local brands. Supreme Ventures continues to make new highs and is worth watching. The price is high more up even higher during the week but supply seems inadequate to meet demand, but an investment in the stock now may only warrant those looking for long-term returns.

NCB Financial traded at $145.05 on the JSE on Friday.

More buying came in for NCB Financial with it closing the week marginally higher at $145.05. The stock may still take some time to break higher but with second quarter results due by end of April increase demand could well develop ahead of the results.
Junior Market stocks to watch this week include, the overhang of Cargo Handlers stock was taken out last week at $11.06 and seem set to pave the way for a bounce in the price, but the stock is a bit overvalued relative to the overall market. Caribbean Cream that closed at $5.55 but traded up to $6.60 in the previous week. Full year results are due towards the end of April and that could help the stock. Caribbean Producers came into buying last week, with a move higher going forward, supported by technical indicator. Sellers of General Accident shares continues to be low, but buyers are trying to get stocks no higher than $4.50 currently at a PE of 15 times 2018 earnings and well below likely 2019 earnings. Investors in the stock at the start of 2018 got a dividend that exceeded 5 percent. If the same were to happen in 2019, the stock would end up at $6 by the end of this year. Investors continue to demand Elite Diagnostic stock at $3.20 or lower with sellers mostly wanting close to $3.50. Trading higher may not occur until closer to the release of nine months results due by mid-May. Honey Bun is showing all the signs of moving higher and traded

Honey Bun traded higher last week.

at $4.24 this past week, up from $3.83 at the end of the previous week. The bid for the stock is now at $4.15. Fontana closed the past week with a slight uptick to end at $4.05, buying continues to be good. With strong potential for growth to flow from expansion of stores now on the way, the stock is to be watched for the inevitable breakout. Express Catering has been enjoying decent buying interest. It is bound to be a big winner from the double digit upsurge in Tourist arrivals so far in 2019. Lasco Manufacturing was in the news with expansion of the storage facilities to accommodate increased production, the stock gained last week and could record further gains this coming week, regardless it one worth watch for longer term gains.

Filed Under: JSE Junior Market, JSE Main Market, Stock Market, Stocks to watch Tagged With: Caribbean Cement, Caribbean Producers, Elite Diagnostic, Express Catering, Fontana, General Accident, Honey Bun, Jamaica Stock Exchange, Jamaican Stock, junior market, Lasco Manufacturing, NCB Financial, Radio Jamaica, Supreme Ventures, Wisynco

Carib Cement tops stocks to Watch

March 25, 2019 by IC Insider.com

Carib Cement plant in Kingston – 2019 should be a big year for the stock.

Carib Cement could be the top stock to watch this week, with quite some supply taken out of the market last week, on the way to a record close on Friday.
Stocks on the Jamaica Stock Exchange have been consolidating, with little new information to stimulate investors to be either aggressively buying or selling stocks. The market indices have been going up and down for most of the year to date.
A series of significant developments are taking place locally, that investors should be paying keen attention to as they may have coded messages for what is in store for some for the rest of the year.
The strong double growth in stopover tourist arrivals to March has strong implication for earnings of three companies. Express Catering is one company to benefit directly as departing passengers numbers rise resulting in increased patronage of their restaurants. Dolphin Cove that came in for increased selling recently, is yet another that stands to benefit directly as more tourist arrivals will likely lead to more patronage of the attraction. Caribbean Producers and Everything Fresh, major suppliers to the tourist industry, will be selling more goods to the hotel sector.
Reduced transfer tax, stamp duties, reduced mortgage rates and increase in the maximum sum the NHT can lend will all feed into increased demand for development properties and lead to increased demand for cement and paints amongst other inputs into construction.

BOJ interest rate & cash reserves cut will help push demand in the economy.

The fall in interest rates led by Bank of Jamaica and increased liquidity that has flowed from the reduction in the level of cash reserves banks have to keep at BOJ, will lead to increased demand for loans and that will be positive for banks.
The exchange rate for the Jamaican dollar has swung from $138 to the US dollar to $125 currently. Such swings will result in big gains or losses for companies with large assets or liabilities in held in foreign currencies. Investors have to decide how to read the effects of such swings on profits and by extension the pricing of stocks.
Jamaica Public Service switch to the new LNG power supply as well as the solar plant to be added to the network this year, will reduce imports of petroleum and demand for US dollars and will result in the lowering of electricity cost to users. The change will also increase productivity of businesses as energy cost declines.
Other stocks to watch include this week include, Caribbean Cream that shot up to $6.60 on Friday with a sudden burst of buying. Sellers of General Accident shares have fallen, with just 4 now posting sell orders at the close on Friday. Buyers are trying to buy Elite Diagnostic stock at $3.20 or lower with sellers mostly wanting close to $3.50. Trading higher may not occur until closer to the release of nine months results due by mid May. Honey Bun is showing all the signs of moving higher. The bid for the stock closed at $3.98 versus the last traded price of $3.83. Fontana seems stuck around $4 but with strong potential for growth, it must be watched for the inevitable break out. Express Catering has been enjoying decent buying interest. It is bound to be a big winner from the upsurge in Tourist arrivals so far in 2019. Wisynco came in for some selling pressure last week even as reports surfaced that they are in talk with yet another local producer to distribute popular brand on top of a major local brand, this is in addition to talks they have been in to distribute a major local brand with big international foot prints. Supreme Ventures continues to make new highs and is worth watching. The price is high and may only warrant long term investing. A lot of the selling of NCB Financial seems to have ended with the market taking the remainder out last week. The stock may still take some time to break higher.

Filed Under: Feature Stories, Stock Market, Stocks to watch Tagged With: Caribbean Cement, Elite Diagnostic, Emerging markets, Express Catering, Fontana, General Accident, Honey Bun, Jamaica Stock Exchange, junior market, NCB Financial, Stocks to Watch, Supreme Ventures, Wisynco

No explosion for Jamaican stocks

March 18, 2019 by IC Insider.com

Wisynco still one to watch.

Most company results are now in for 2018, a few are now due for periods ending in January and February. Not much is expected from results due shortly, that will make a major impact on the overall market.
A number of stocks that attracted increased buying interest in recent days that are worth watching this week. Wisynco Group traded during last week at $12 but slipped to $11.50 on Friday as nearly 6.4 million units crossed the exchange, but supply continues to be low.
Fontana continues to trade in healthy volumes at $4 but supply is getting limited. Seprod continues to come in for demand with the price rising in the week to close at $44. PanJam Investment continues to flirt with record highs, but is held in check by the late reporting of financials. Radio Jamaica is fluctuating in price but with increase local economic activity investors should be looking ahead for this one. General Accident has been trading around the $4.50 level for weeks with increased interest shown in the stock since it posted increased profit for 2018. Selling seems to be coming mainly from one source.
Scotia Group reported results for the first quarter but with lower profit in the quarter compared to 2018, but they reported healthy growth in loans an important indicator for improved profit going forward. This is one to watch for longer term. Caribbean Cement continues to fluctuate having posted strong 2018 results. With prospects for 2019 looking great, investors will never know when the break out will occur, the same applies partially to NCB Financial that currently have selling overwhelming buying. Honey Bun is displaying signs as if a break out is not far off with sellers mostly in the high $4 level and buyers under $4.

Filed Under: Stock Market, Stocks to watch Tagged With: Caribbean Cement, Emerging markets, Fontana, General Accident, Honey Bun, Jamaica Stock Exchange, Jamaican Stock, NCB Financial Group, Radio Jamaica, Scotia Group, Seprod, Wisynco Group

Market Watch still on Scotia

March 11, 2019 by IC Insider.com

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Scotia Group January 2019 first quarter results due this week.

The main and Junior markets of the Jamaica Stock Exchange pulled back in the holiday shortened week as investors continue to digest and react to some mixed results for 2018.
Scotia Group did not released this past week as was done in 2018. The 2019 result is expected this week, this is one that is to be watched keenly and investors would be smart to keep an eye on the most critical signal that it will send for increased profits for this year. It must show meaningful growth in the loan portfolio, to start pumping up profit. Caribbean Cement closed at $51.02 and should move higher with limited supply on offer and an analysis of the audited 2018 results suggesting that cost should decline sharply in some areas and revenues rise in the current year. IC Insider.com again revised earnings, this time to to $7 for the year. Last year, cement import cost more than $1 billion, that cost will not recur this year, they will also benefit from a full year of the removal of the expensive lease cost resulting full year’s saving from the $2 billion annual savings, resulting from owning the kilns rather than leasing. Radio Jamaica climbed to $1.15 late last week but there is not much selling at these levels.
Jamaica Stock Exchange pulled back during the week to $14.80 and seems poised to slip some more before settling down, ahead of the 2019 first quarter results that is expected to show a big increase in profit if the data of trading values are anything to go for 2019 to date. Grace Kennedy reported improved results with earnings per share of $5, helped by a big increase in investment income and foreign exchange should be priced higher than the $60.80 it last traded at.

Buying of Fontana was strong on Friday.

Buying came in for Fontana last week pushing the price the price to $4 on Friday and could move higher during the coming week. Wisynco continues to trade around the current price just below $12 and seems poised to continue to move side wards for a while. Watch Elite Diagnostic that has been steady around $3.20 but with good buying interest at the current price level but sellers are reluctant to come off the $3.40 offer price.
Buying for General Accident continues to trade around $4.50 level with no clear signs when it will the break out to a higher price level as there have been selling around these levels and that may well continue for a while.
Lasco Financial remains stuck around $4.60 price level with some selling taking place at $4.60, but buying is not strong enough to move the price in the short term. Medical Disposables bounced last week but the price may bounce around for some time in the medium term. Caribean Cream seems poised to move higher with a gap that has developed between buying and selling interest. Express Catering this one could see huge benefits from the big double digit increase in tourist arrival this year so far, with January up 11.3 percent islandwide. Stationery and Office Supplies dropped to $7 from more than $8 but there are signs of a bounce. Barita Investments announced an interim dividend of 82 cents per share, this news could well lift demand for the stock.

Filed Under: Stock Market, Stocks to watch Tagged With: Berger Paints, Caribbean Cement, Elite Diagnostic, General Accident, Jamaica Producers, Jamaica Stock Exchange, junior market, Kremi, Lasco Financial, Medical Disposables, Radio Jamaica, Scotia Group

Market Watch on Scotia

March 4, 2019 by IC Insider.com

The main market of the Jamaica Stock Exchange moved within less than 5,000 points of the record close in November last year as investors pushed the prices of some stocks higher during the past week.
Based on the date the first quarter results for Scotia Group was released in 2018, the 2019 results should be released on Thursday but so far the company has not posted the date of dividend consideration that is normally the date of announcing the results. Caribbean Cement closed at $55 and should move higher with limited supply on offer and an analysis of the audited 2018n results suggesting that cost should decline and revenues rise in the current year. IC Insider.com raised earnings to $6 for the year with the expensive $1 billion cement import last year not recurring this year and the benefit of a full year of removal of lease cost with added saving this year from the $2 billion annual savings from resulting from owning the kilns rather than leasing. Keep on watching this one for a break out in price.
Radio Jamaica pulled back to $1 late last week but there is buying at those levels and above.
The Junior Market is consolidating with a slight negative bias, even as this market seems far more undervalued than the main market, the release of quarterly profit results is not helping this market currently as investors wait to see what 2019 results will look like.
Last week, a number of results were released but they showed that investors may have pushed prices to their limit already. Jamaica Stock Exchange report big increase in profit for 2018 of $413 million versus $221 million in 2017 with earnings per share of 59 cents and thus pushing the PE ratio to a rich 30. Berger Paints profits were flat but the company had a blowout final quarter with revenues jumping 155 percent from the poor 2017 quarter and profits of $130 million versus just $30 million in 2017. Grace Kennedy reported improved results with earnings per share of $5, helped

Grace new HQ close to the end of construction in downtown Kingston

by a big increase in investment income and foreign exchange. Jamaica Producers earnings grew 23 percent to 73 cents per share and resulting in one of the higher valued stocks on the market. Mayberry Investments reported a loss of $6million after tax for the year with a big increase in credit loss and investment impairment provisions. Sagicor Group and PanJam Investment full year’s results are delayed.
Fontana’s and Wisynco continues to trade around their current prices just below $4 and $12 respectively and seem poised to continue to move side wards for a while.
Elite Diagnostic moved up to $3.20 last week with good demand at that level continues to trade around $3.10 with a gap developing between the bids at $3.10 and sellers at $3.40. Will buyers move higher or will sellers come down where the majority of buyers are? Watch to see how this develops.
Buying for General Accident continues to trade around $4.50 level with no clear signs when it will the break out to a higher price level.
Lasco Financial remains stuck around $4.60 price level with some selling taking place at $4.60, but buying is not strong enough to move the price in the short term. Medical Disposables bounced last week but the price may bounce around for some time in the medium term.

Filed Under: Stock Market, Stocks to watch Tagged With: Berger Paints, Caribbean Cement, Elite Diagnostic, Fontana, General Accident, Jamaica Producers, Jamaica Stock Exchange, junior market, Lasco Financial, Mayberry Investments, Medical Disposables, PANJAM Investment, Radio Jamaica, Sagicor Group, Scotia Group

Cement & RJR on watch alert

February 25, 2019 by IC Insider.com

Carib Cement could earn $5.30 in 2019.

The action on the Jamaica Stock Exchange is focused on the main market currently as it continues to exhibit clear bullish signs, that propelled by a recent wedge formation and is also being steered upwards by a long term upward sloping support line, that goes
back to early 2016.
The main market is just 9,625.14 points away from the peak
reached of 433,307.22 points reached on 29-Nov-last on the All Jamaica Index. The Junior Market is consolidating with
a slight negative bias, even as this market seems far more undervalued than the main market.
This week investors will see a series of releases with some expected to move the prices of some of the companies. The stocks in this
category to watch keenly are Jamaica Stock Exchange that should report a doubling in profit for the 2018. Berger Paints, Grace Kennedy, Jamaica Producers, Mayberry Investments that should show the full impact of the new accounting standard that will book all investments gains or losses directly to regular profit and loss, Sagicor Group, PanJam Investment. Release of full year’s results for Caribbean Cement last week, provided fuel that drove the price up to $51.50. Supply of the stock is low, with profit prospects for 2019 looking good.
Last weeks’ release of Fontana’s half year results, were mixed, with slightly higher profit for the six months but lower profit for the December quarter, the latter from modest sales increase, halted the advance of the price of the stock. The stock is likely to trade around the $4 level for a while. Investors ought to be focusing on the expansion plans and what that will do to profit in fiscal 2020. Wisynco continues to trade around the $12 mark but could break out at any time demand existing to buy just below $12 and supply drastically reduced compared to the period before the company released six months results.
Demand remains high for Buy Rated Radio Jamaica but supply has virtually dried up and so the stage may be set for higher prices ahead. The price moved up to $1.40 during last week but pulled back afterwards to trade back at $1 on Friday before heading back to close at $1.25.
Elite Diagnostic continues to trade around $3.10 with a gap developing between the bids at $3.10 and sellers at $3.40. Will buyers move higher or will sellers come down where the majority of buyers are? Watch to see how this develops.
Buying for General Accident continues between $4 and $4.25, when will the break out takes place is unknown, but the valuation suggest that it could be sooner than later as the company is expected to build on the 2018 results of 29 cents per share in 2019.
The price of Lasco Financial rose during the past week but the price could inch higher this week but investors may not be ready push it much higher in the short term
Medical Disposables bid at the close on Friday was $5.50 with offer at $6.49, a wide gap that will close at some time. The company’s expansion into consumer products offers scope for a faster growth in profit going forward and that swill help the stock in the latter half of 2018. The latest results show, it is going take sometime for the expected growth to really take hold.

Filed Under: Stock Market, Stocks to watch Tagged With: Berger Paints, Elite Diagnostic, Fontana, General Accident Insurance, Grace Kennedy, Jamaica Producers, Jamaica Stock Exchange, junior market, Lasco Financial, Mayberry Investments, Medical Disposables, PANJAM Investment, Radio Jamaica, Sagicor Group, Wisynco Group

Fontana & Wisynco watch alerts

February 18, 2019 by IC Insider.com

A close look at the main market shows clear bullish signs, with the market breaking out from a wedge formation and is being steered upwards by a long term upward sloping support line, that goes back to early 2016.
Unlike the rally in December that was dominated by NCB Financial, this rally is more broad based. Over the past two weeks, several company released results and seem to be stirring investors’ interest in a number of the companies.
Fontana and Wisynco were highlighted last week, as compelling stocks to watch. Demand for the two stocks drove prices higher on strong demand and increasing traded volumes, during the past week.
These two stocks remain on the watch list and IC Insider.com expects to see continued demand for them. Importantly, the supply of Wisynco’s shares is drastically reduced, since the release of the December quarterly. There are further reports that apart from a likely big new distribution contract that being discussed the company will be distributing sugar for a factory in the western end of the island.

Radio Jamaica

Buy Rated Radio Jamaica was struggling below the 90 cents mark for a very long time, came to life during the week with the company reporting strong gains in profit in the December quarter of $168 million versus $79 million in the similar period in 2017. The stock traded several million units below 95 cents but hit $1.20 on Friday as supply below dried up. The stock may find it difficult the move higher during the coming week but is worth watching to see where it trades during the week.
A block of nearly 61 million AMG Packaging shares traded during the week and stopped the price from moving higher. Buying interest remains as many investors see prospects of continued profit and stock price.
Elite Diagnostic closed the past week at $3.10 as results released showed a big improvement over the first quarter to September of $5 million versus $1.6 million on a pretax basis. The reported profit was not good enough to excite investors looking for immediate stock price gains. The price may well remain anchored around current levels for a while. The quarter over quarter growth in revenues points to higher revenues in the March quarter. There now appears to be a gap developing between the bids at $3.10 and sellers at $3.40. Watch to see how this develops. PanJam Investment traded as high as $82 on Friday with limited supply of the stock offered for sale. This one seems poised to move higher as just limited supply of the stocks is on offer for sale.
Demand for Fontana shares ate away at supply of the stock during the week but seems to have the $4 mark to take out before moving higher.

Section of Fontana Waterloo road branch now under construction.

The stock is still undervalued, even as it has doubled the IPO price. Investors ought to be focusing on the expansion plans and what that will do to profit in fiscal 2020.
General Accident 2018 results came out in the region of 29 cents per share but with $129 million less investments income and a big bump up in Management fee expense of 40 percent to $803 million. Importantly, net premium income rose a strong 28 percent for the full year. Selling pressure may be easing up with buying picking up.
ISP Finance reported flat profit for the year to December but revenues rose 18 percent in the last quarter over that of 2017 driving profit in the quarter 30 percent to $25 million. The results was strong enough to drive the bid above the last traded price and push selling of the stock on to the sideline. The growth in the final quarter of 2018 points to improving fortunes for the company and so could ignite demand for the stock at a higher price than the closing bid of $13.
Jamaica Stock Exchange shares hit a new high of $17.95, during the past week, with increasing interest shown in the stock. Exposed supply is currently not high, with expected continued buoyancy in the market and a big increase in new listings this year, investors seem more aggressive to buy into what should be another year of increased profit for the company. Seprod’s price moved up to $39 with increased demand for the shares continuing against the background of declining supply. The price seems poised to move even higher in the coming weeks as the stock remains attractively priced and in limited supply.

Some of Seprod”s products.

Lasco Financial came out with powerful December quarter profit that rose 95 percent to $107 million after tax but a still respectable 67 percent before tax. Nine months profit rose by a much slower 21 percent from $222 million to $268 million after tax but a slightly heathier 23 percent before tax. The December quarter has sufficient information that investors can use to determine what future prospects are for profit and that could help lift demand for the stock.
NCB Financial remains on the Watch List with strong gains in operating profit for the December quarter, but the stock is finding it hard to break through resistance at the $150 level and may need something out of the ordinary if the price is to move decidedly higher before the summer months.

Filed Under: Buy Rated, Stock Market, Stocks to watch Tagged With: AMG Packaging, Emerging markets, Fontana, General Accident, Honey Bun, Jamaica Stock Exchange, Jamaican Stock, junior market, Lasco Financial, NCB Financial Group, PANJAM Investment, Radio Jamaica, Seprod, Wisynco Group

Compelling case to watch Fontana & Wisynco

February 10, 2019 by IC Insider.com

Fontana Waterloo Road branch now nearing completion.

Two compelling buys this week that investors should be watching over the next few weeks, are Fontana in the Junior Market and Wisynco in the main market of Jamaica Stock Exchange.
Last week, the results of a few companies were released, but only the results of Wisynco, had the potency to move the stock price, without much delay. More companies will release quarterly reports this week and they are worth watching.
Wisynco reported strong half-year results to December and encountered good buying interest on Friday with nearly 2.7 million shares trading, with little price movement. Trading on Friday may have removed quite a bit of supply to help pave the way for an inevitable price rise at some point in time. The company is yet to reap the full benefit from the new production lines they installed last year and effective providing room for greater profit margin. In addition, they added sugar distribution to the product line up starting in January this year. The company is ripe to add more products for distribution could well add new brands to the lineup that will boost revenues and profit if that happens. At current price of $10.40 and with a strong increase 36 percent in profits for the December quarter, investors with limited inventory of the stock would be unwise not to add it to their portfolios.

Wisynco could enjoy much increased revenues going forward as new products as added to the line up.

The recent quarterly report of AMG Packaging showed a big improvement of 68 percent in profit to $16.1 million, resulted in garnering increased buying interest around the $2.50 level. The price could move higher with sellers trying to get out around $2.70 level.
Elite Diagnostic rose in price this past week with increased buying interest and may go higher in the coming weeks as the quarterly results for December should show a big improvement over the $1.8 million profit reported in the first quarter to September and point to a much brighter future for this expanding entity.
PanJam Investment has limited supply of the stock offered on the market currently. At the close on Friday, just 79,000 units were shown on the JSE trading platform for sale compared, to 781,000 on the buy side. The lowest offer was 51,000 units at $80. It will be interesting to see what will happen with the price during the week.
Demand for Fontana shares is gradually eating away at supply of the stock with the price closing at $3.60, on Friday. The bid closed at $3.60 on Friday and the price could move higher during the week. With IC Insider.com projected earnings for the current year at 50 cents per share and the opening of its latest branch this year, the stock has lots of potential gains ahead of it.
General Accident enjoyed lower demand in the past week with the price slipping from $4 to $3.90. The stock is a big value play with the 2018 results likely to come out in the region of 45 cents per share and 2019 even higher and provide solid incentive for the buyers to pick up the stock. Interim results for the full year, are expected to be released this week. Jamaica Stock Exchange shares hit a new high of $14, during the past week, with increasing interest shown in the stock. Exposed supply is currently not high, with expected continued buoyancy in

Seprod shares now trades at $34.85 each.

the market and a big increase in new listings this year, investors seem more aggressive to buy into what should be another year of increased profit for the company. Seprod price moved up to $34.85 with increased demand for the shares continuing against the background of declining supply. The price seems poised to move even higher in the coming weeks as the stock remains attractively priced.
Lasco Manufacturing’s profit for the December quarter was effectively flat at $197 million but is up 32 percent for nine months period. With EPS at 17 cents for the year, to December, there was little fire power to move the stock price during the week. The same is true for Lasco Distributors, with a 24 percent rise in profit to $157 million for the December quarter and 16 percent increase for the nine months to December, to $620 or 18 cents per share. Lasco Manufacturing with EPS close to Lasco Distributors should really see the stock price moving closer to the latter than the $3.10 it closed at on Friday.
NCB Financial remains on the Watch List with strong gains in operating profit for the December quarter, but the stock is finding it hard to break through resistance at the $150 level and may need something out of the ordinary if the price is to move decidedly higher before the summer months.
Barita Investments is worth watching but with the price falling, having gone ex rights during the past week.

Filed Under: Stock Market, Stocks to watch Tagged With: AMG Packaging, Barita Investments, Elite Diagnostic, Emerging markets, Fontana, General Accident Insurance, Jamaica Stock Exchange, Jamaican stocks, junior market, Lasco Distributors, Lasco Manufacturing, NCB Financial Group, PANJAM Investment, Seprod, Wisynco Group

Watch NCB but Fontana may break out

February 4, 2019 by IC Insider.com

Jamaica Stock Exchange listed companies will start releasing the December quarterly reports this week. Results could move prices depending on how investors view their strength or weaknesses.
NCB Financial remains on the Watch List with strong gains in operating profit for the December quarter, resulting in increased demand for the stock last week with the price rising to $152.90 but two big trades on Friday peg the price back to $145. The stock should continue to see buying interest around the current level that could well result in another attempt at the $150 level as investors find it difficult to get meaningful supply at the $145 level. There is currently over 210,000 units on offer at $145. The price is currently below near term resistance at $150. If it breaks through then it faces another at $170 with $200 level being the next big one.
Fontana now has a bid to buy 904,281 units at $3.50, with just 56,452 units on offer, for sale at $3.60. A relatively high degree of overhang of supply of the stock that that was on offer, was bought on Thursday. The reduced supply could now pave the way for buyers to be more aggressive in acquiring shares to benefit from the strong potential gains that lie ahead. General Accident enjoyed greater demand in the past week with the price rising to $4. With the 2018 results likely to come out in the region of 45 cents per share that will provide solid incentive for the buyers to pick up the stock.

Fontana upcoming Waterloo Road branch

Jamaica Stock Exchange shares hit new highs during the past week with increasing interest being shown in the stock. Exposed supply is current not high and with expected continued buoyancy in the market and a big increase in new listings this year investors seem more aggressive to buy into what should be another year of increased profit for the company. Supply of Seprod’s shares continue to decline after a period of high supply following the public sale of 91 million shares that satisfied the market and resulted in increased selling as some investors took profit. The price has been inching higher over the past week or two and seems poised to move higher again in the coming weeks. Wisynco’s directors met last week and announced a 7 cents dividend. Most likely, the second quarter results would have been approve at that meeting and should be released this week. Last year results were posted on the JSE website on February 7. The second quarter results, are expected to be better than the first quarter. Revenue in the September quarter was negatively affected by some disruption in sales due to commissioning of new equipment.
The three Lasco companies should be releasing results for the December quarter by the end of the week and the prices could see some movements as a result.

Filed Under: Stock Market, Stocks to watch Tagged With: Emerging markets, General Accident Insurance, Jamaica Stock Exchange, Jamaican Stock, junior market, Lasco Distributors, Lasco Financial, NCB Financial Group, Seprod, Wisynco Group

NCB the stock to watch

January 25, 2019 by IC Insider.com

NCB tis the stock to watch with big jump in profit from continuingh operations.

Investors in aggressive buying of NCB Financial shares in late 2018, pushed the group’s shares up to a record high of $161 on last day of November last, following full year’s results that were released earlier in the month.
If investors reacted so strongly to results that were telegraphed previously by the nine months results, it will be interesting to see how they react to the 29 percent hike in dividend and a 40 percent rise in profit before one-time income and taxation.
With profits from ongoing operations seeming set to rise to the $14 region this year, NCB Financial is clearly the stock to watch today.
The results could spark the start of the 2019 rally in the main market and push the price well beyond resistance around the $160 market and unto the next resistance around $200.
In pre market activity, the indication is that the stock will move higher than the $145 it last traded at on Thursday. With just over ten minutes to the start of trading, there are 20,300 units on the bid at $147 and ten at $145 to $145.01.