LOFC.N0000 : LOLC FINANCE PLC - Breaking of Cup & Handle Pattern
Fundamentals
* LOFC Earnings & Net Assets were dropped due to the acquisition of Commercial Leasing and LOLC Development Finance under non-bank financial sector reforms in Sri Lanka. (Due to an accounting treatment - Merger Reserve of negative LKR 262.9 billion, not an operational loss)
* With the economic recovery of Sri Lanka LOFC had reported 2 consecutive Qs of solid earnings growth
* Forward EPS 1.24, FWD PE 5
* Due to negative merger reserve company will enjoy tax advantages
Technical Analysis (Chart Patterns)
* On 1st March 2024 LOFC.N0000 broke the descending wedge pattern. Pattern Target LKR 7.20.
* On 19th April 2024 LOFC.N0000 broke the Cup & Handle formation. Pattern Target LKR 8.30.
* For confirmation 19th April 2024 candle should close above LKR 6.20.
* LOFC Earnings & Net Assets were dropped due to the acquisition of Commercial Leasing and LOLC Development Finance under non-bank financial sector reforms in Sri Lanka. (Due to an accounting treatment - Merger Reserve of negative LKR 262.9 billion, not an operational loss)
* With the economic recovery of Sri Lanka LOFC had reported 2 consecutive Qs of solid earnings growth
* Forward EPS 1.24, FWD PE 5
* Due to negative merger reserve company will enjoy tax advantages
Technical Analysis (Chart Patterns)
* On 1st March 2024 LOFC.N0000 broke the descending wedge pattern. Pattern Target LKR 7.20.
* On 19th April 2024 LOFC.N0000 broke the Cup & Handle formation. Pattern Target LKR 8.30.
* For confirmation 19th April 2024 candle should close above LKR 6.20.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.