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Good stable movement by harbour today, no surprising news on weekend. As I said retails who are easily tricked by headline news have already sold and look away, which is a good thing, which means lesser selling pressure in the short term. Now let’s allow some time to stabilise at this 1.62-1.68 range to fill the gap last week before challenging previous high. 1.8-1.9 is definitely very possible
Next Monday is a PH and before weekend so Harbour may take some days stabilising as most investors take a “see how first” approach. But presumably weak hands already sold off their stake and look away, which is a good thing.
If nothing crazy happens on weekend harbour should resume a small and slow climb next week , can it go beyond 1.8? It depends, few things happening now
1) ceasefire definitely not so soon, Israel is still not stopping its attack .
2) port strike at Germany/france
3) west coast labour ILA contract discussion not seeing results
4) Europe tariff on China EV
I usually don’t like to look at shipping stocks when the sentiment is bad, it’s volatile. Instead I closely monitor the Europe line container futures, it’s where the big players place their bet. If they stay high and stocks go low, it may be a good opportunity.
But again no investment is guaranteed, if things go south I have my stop loss in place and with my entry point, I’m merely risking a slightly lower profit, something I can gladly accept. But I’m confident that the retracement shouldn’t go any lower than its previous one . Let’s hope for the best
The cabotage policy like I said in previous comments, is a Blackhorse event that investors haven’t factor in yet. For now, it’s still preliminary and no substantial effect in short term. But as sarawak seeks greater autonomy in different aspects of its economy, I believe it’s just a matter of when. And if it does, I think it will positively impact harbour in the sense of reducing competition. But one can’t just look at this news and buy harbour, depending on the current competitors around domestic trade and port calling, need to dig deeper on how the numbers work out to be positive, then do the valuation necessarily. For now I’m just looking at it as a potential catalyst, but nothing certain yet
