In a recent radio interview, i was asked about this company Riverstone, just post it here so our blog follower can also learn more about this company
Riverstone is a Singapore listed malaysia company that produce cleanroom and healthcare rubber gloves, in the February full year financial result, Revenue is up strongly by 16.9% however Net income is down by 4.9%. On the fundamental view for Riverstone, it can be consider as a stock with strong fundamental as it has Zero debt and have RM103.2 Million in cash. This shows that the company will have no problem in giving out dividend consistently over the next few year.
Why stock not performing?
Since 2013 to 2015 most of Malaysia Rubber glove stock up at least 100%, and riverstone up more than 400%, but since 2015 peak till now, the Sector is weak, similar stock listed in malaysia currently also not performing well. seems like investor have no interest in rubber glove stock now
from the chart, the stock is not a uptrend stock, currently price is below 50 and 200ma, , mid term term is sideway trending, resistance is at 94 cents, if can break above resistance then we will look at this stock, support level is at 84 cents, if break below support then this show that selling pressure is strong.