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1Q=-18m, 2Q=-1.1b, Kenanga said 2025 net profit =316m, which means 3Q+4Q net profit =1.4b !!!!! And kenanga also said 2026 net profit = 1.689b!!! This profit is about what Pchem achieved in 2023 so most probably its share price will go back to around RM7.00++ !!!!!!!!!!!!!!!!!!!!!!!!! I think EPF already has this target price in their mind !!!!!!!!!!!!!!
Huge capacity reduction now in South Korea and China petrochemical industry restructuring! Past cycles suggest that even short term reduction of operating rates could push the price of petrochemical products much higher! This may definitely benefits Pchem and bring its stock price back to above rm5!!! After lunch today we are welcoming Pchem to break 5! And probably could hit limit up at 5.43!
Engine cannot start smoothly yet. Must have momentum to leave yesterday closing 13.76 first, then break MA200 at 13.89, then challenge 14.00, then free fly to challenge upper bollinger bands at around 14.20.
