Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Friday, August 17, 2012

Re-rating in the works for MAS?

MALAYSIA Airlines (MAS) is still in the red and has been for the last six consecutive quarters.

But this time the losses were smaller compared with the corresponding quarter a year ago.

On Tuesday, MAS reported RM349mil net loss for the April-June 2012 period versus RM526mil net loss a year ago.

However, after stripping out the forex translation gains of RM173mil and derivative fair value adjustment of RM15.3mil, the airline's core net loss for the second quarter was only RM160.4mil.

Operationally, the loss also narrowed to RM101mil from RM443mil. Moving forward, the second half is generally a stronger period for airlines globally.


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