Starcom Plc - WATCHING CLOSELY - #STAR
Closing above 3.06p target 4.87p
Struggling to close above the 61.8% fibs. and RSI showing some weakness so we might need to retest the lows before having enough strength to go above 61.8% fibs.
RNS today was a gold bull ticket but quite possibly not enough liquidity in the market at moment so bears took power over it.
Looking promising though for the future of Starcom Plc.
today's RNS:
AGM Statement
Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, announces that Michael Rosenberg, Chairman of Starcom will provide the following trading update at today's AGM:
The directors of Starcom are pleased to report that, based on unaudited management accounts, revenues for the first quarter have exceeded the level predicted in the Chairman's statement accompanying the results for the year ended 31 December 2017.
Revenues for the period were approximately $1.5m compared to the predicted level of $1m. In the same period in 2017, revenues were approximately $765,000. While it is not the intention to publish regular quarterly statements, the board felt it was important to update shareholders on the high level of business generated in the first quarter of 2018 and also the positive sales enquiries we are receiving from our customers; all of which indicates that revenues for the full year will comfortably exceed those of last year.
As previously stated, it is expected that EBITDA for the year will turn positive.
We can additionally report that our new strategic customers, including CropX and WIMC, have indicated placing further orders this year, in line with our expectations.
On the technology side, the Company is planning to launch new, cheaper and more versatile versions of the Watchlock, under the Starcom brand, which we hope will stimulate market interest while providing higher margin sales.
-ends-
Struggling to close above the 61.8% fibs. and RSI showing some weakness so we might need to retest the lows before having enough strength to go above 61.8% fibs.
RNS today was a gold bull ticket but quite possibly not enough liquidity in the market at moment so bears took power over it.
Looking promising though for the future of Starcom Plc.
today's RNS:
AGM Statement
Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, announces that Michael Rosenberg, Chairman of Starcom will provide the following trading update at today's AGM:
The directors of Starcom are pleased to report that, based on unaudited management accounts, revenues for the first quarter have exceeded the level predicted in the Chairman's statement accompanying the results for the year ended 31 December 2017.
Revenues for the period were approximately $1.5m compared to the predicted level of $1m. In the same period in 2017, revenues were approximately $765,000. While it is not the intention to publish regular quarterly statements, the board felt it was important to update shareholders on the high level of business generated in the first quarter of 2018 and also the positive sales enquiries we are receiving from our customers; all of which indicates that revenues for the full year will comfortably exceed those of last year.
As previously stated, it is expected that EBITDA for the year will turn positive.
We can additionally report that our new strategic customers, including CropX and WIMC, have indicated placing further orders this year, in line with our expectations.
On the technology side, the Company is planning to launch new, cheaper and more versatile versions of the Watchlock, under the Starcom brand, which we hope will stimulate market interest while providing higher margin sales.
-ends-
Trade active:
watch for the 20ma (orange line) to cross the 50ma within next few days/week - that could well initiate a good bull run.