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jcylcharts
Oct 22, 2020 11:54 AM

Citydev Range Trading  

CITYDEVSGX

Description

From technical point of view, should see price consolidation between $6.80 - $7.10.
Look to trade within the range.

Long on valuation perspective
1) Sell off due to Director resign on disagreement over Sincere Property Group & Millennium & Copthorne Hotels
2) Concern not new, review from External Financial Advisor might help to ease concern
3) Based on 1H20, Cash holding at SGD 2,392,024,000 ( Cash per share S$2.63)
4) NAV @ $11.66/ share


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