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TECHNICAL ANALYSIS
Uptrend
Price Trend: the price gained 4.2% in the last week.
Support: the support price is hovering at the VND9,100.0 level. Volume traded at the fragile support price zone was 0.1 times average during the three occasions when the support price was breached. In the last one month the first low was at VND9,100.0 on Oct 17, the next at VND9,200.0 on Oct 21. The third decline halted at VND9,200.0 on Oct 19.
Resistance: there is a downtrend in the moving average price after a prolonged upswing. Previous rallies have been met with resistance at VND11,700.0. However, selling pressure at that level has been weak; volume was 0.2 times average during the four occasions when the resistance price was breached in the last one month. In the last one month the highest was at VND11,700.0 on Oct 04, the second highest at VND11,600.0 on Oct 05. The third advance halted at VND11,500.0 on Oct 06 and the 4th at VND11,500.0 on Oct 07
PRICE VOLUME DYNAMICS
Volatility: the stock traded between a two-month low of VND9,100.0 and a five-month high of VND11,700.0. This suggests a trading opportunity between peaks and troughs.
Moving average price (MAP): the price to 200-day MAP ratio is 0.93, a bearish indicator. In the past 200 days this ratio has been under 0.93 one hundred eighty-three times suggesting further downside. The stock is trading below both its MAPs and the 50-day MAP of VND10,114.0 is lower than the 200-day MAP of VND10,652.058, a bearish indicator. The 200-day MAP has decreased to VND10,652.058. A decrease is another bearish indicator. In the last nine months the number of falls outnumbered rises 5:3 or 1.67:1.
Relativities: in the Vietnam market of 274 stocks traded today, the stock has a 6-month relative strength of 67 which means it has outperformed 67% of the market.
Volume and turnover period: there were 461,090 shares worth VND5 billion (US$240,223.8) traded.
% Discount to high: the last price is at a discount of 27.2% to the 12-month high of VND13,600.0 eleven months ago on 06 Dec, 2010.
% Premium to low: the last price is at a premium of 16.5% to the 12-month low of VND8,500.0 five months ago on 26 May, 2011.
Volume weighted price (VWP): the price is at a discount of 2.9% to the 6-month volume weighted average price of VND10,198.39, which may appeal as a value proposition.
THIS MONTH’S PRICE PERFORMANCE RANK IN INDEX AND SECTORS
The stock is in 1 index and 2 sectors.
The following index and sector fell setting the trend for its fall of 12.4% for the month (rank by percentage price change of stock for 1 month;12 months in sector/index in brackets):
Total Vietnam Market (rank 253;80 out of 274 stocks) which was down 13.3 points or 3.7% to 348.7,
VN index (rank 155;61 out of 166 stocks) which was down 6.8 points or 1.6% to 420.8
The stock’s fall of 12.4% for the month went against the trend set by Energy sector (rank 13;6 out of 15 stocks) which was up 0.1 points or 0.03% to 219.
The Energy company sector is the 6th largest by market capitalisation out of Vietnam’s 19 sectors. It is made up of 16 publicly listed companies with a combined market capitalisation of VND16,071 billion (US$766.6 million). The main players in the sector include Petrovietnam Drilling and Well Services, Pha Lai Thermal Power, Vinh Son-Song Hinh Hydropower and Thac Ba Hydropower.
RELATIVE VALUATION INDICATORS [RVI]
Can Don Hydro Power vs Energy sector [Energy sector Average in Brackets]
Better than Sector Average: P/E of 3.2 [5.5], rank 22 out of 193; Yield of 15.2% [4.4%], rank 24 out of 133stock with dividends.
SHAREHOLDER RETURNS
Trailing One Month: The stock rose nine times (41% of the time), fell eight times (36% of the time), was unchanged four times (18% of the time) and was untraded once (5% of the time). The volume was 2.5 times average trading of 164,654 shares. The value of VND1,000 invested one month ago is VND1,047 [vs VND985 for the VN index] for a capital loss of VND75.
Trailing Six Months: The stock fell forty nine times (39% of the time), rose forty eight times (38% of the time), was unchanged twenty seven times (21% of the time) and was untraded three times (2% of the time). The value of VND1,000 invested six months ago is VND1,047 [vs VND883 for the VN index], including a capital loss of VND75 and dividend reinvested ofVND122.
Trailing one year: the value of VND1,000 invested one year ago is VND830 [vs VND957 for the VN index], including a capital loss of VND267 and dividend reinvested of VND96. The total return to shareholders for 1 year is -17.0%.
MARKET SHARE
Can Don Hydro Power vs Energy sector [Energy sector Total in Brackets]
MCap of VND355.2 billion (US$16.9 million)[2.2% of Aggregate Sector MCap of VND16,071 billion (US$766.6 million); down from 2.3% in the previous year.]
FUNDAMENTALS
Earnings: The earnings yield of 31.4% is 2.5 times the 10-year bond yield of 12.7%.
P/S: The price/sales ratio is 1.3.
Price to NTA: The price to net tangible asset backing per share is 0.8.
Dividend Yield: The company paid a dividend of VND1,500.0 in the last 12 months. The dividend yield is 15.2%. (rank 24 out of 133).
ISSUED CAPITAL
Based on 35,879,000 issued shares the market capitalisation is VND355.2 billion (US$16.9 million).
ACTIVITIES
Can Don Hydro Power JSC is a Vietnam based electric utilities company that generates and trades electric power as well as offers construction and installation services for hydroelectric, irrigation, civil and industrial works.
TOP MANAGEMENT
The Chairman is Tap Khac Pham
BUSINESS NEWS ROUND UP
The last 5 snippets were:
October 25: SJD: Explanation for business results in quarter 3/2011
[News Story] Can Don Hydro Power Joint Stock Company (CAN DON HSC) has explained business result in quarter 3/2011 beside quarter 3/2010 as follows:Revenue in quarter 3/2011 was higher than that in the same period last year because flow towards lakes increased (Source: HoChiMinh Stock Exchange)
October 04: Can Don Hydro Power recommends dividend
Can Don Hydro Power today announced a cash dividend of VND1,500.0 per share. The ex dividend date is October 17, 2011 and the record date is October 19, 2011 and it is payable on October 28, 2011.
April 19: Can Don Hydro Power appoints Director
Can Don Hydro Power has appointed Pham Hoang Viet as a Director. The effective date is April 15, 2011.
March 07: SJD: The record date for the 2011 annual shareholders meeting
HOSE announces the record date for the 2011 annual shareholders’ meeting of Can Don Hydro Power Joint Stock Company as follows:<Stock symbol : SJD <br>* Stock type : Common stock <br>* Par value : VND10,000 <br>* Ex-right date : March 14, 2011<br><br>(In case of put-through trading with volume from 100,000 shares and over on March 14 & 15, 2011, sellers will not receive the right)<br><br>* Record date : March 16, 2011 <br>* Meeting time : announcing later <br>* Venue : announcing later<br><br>Source: Hochiminh Stock Exchange
January 26: SJD: Explanation for business result in Quarter 4/2010
[News Story] Can Don Hydro Power Joint Stock Company explained the fluctuation in business result between Quarter 4/2010 and Quarter 4/2009:<br><br>Revenue in Quarter 4/2010 was lower than Quarter 4/2009 because water flow into lakes was low and made the production of electricity down.
Currency Conversion: US$1=20,965.0 Vietnamese Dong (VND). VND1 = 10Hao.