Bursa Malaysia Stock Watch
JCY - JCY hits lowest since listing
kltrader
Publish date: Thu, 29 Jul 2010, 05:55 PM
kltrader
0 20,412
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Stock Name: JCY
Company Name: JCY INTERNATIONAL BERHAD
Research House: CIMB
KUALA LUMPUR: Shares of JCY International Bhd fell to its lowest since listing to RM1.32 in late afternoon on Thursday, July 29 in very active trade.
At 3.35pm, it was down four sen to RM1.32 with 13.2 million shares done. Its highest was RM1.98.
It was listed on Feb 25 at an offer price of RM1.60. Since then, its share price is down 28 sen or 21%.
In a report issued on July 20, CIMB Equities Research had a Sell on JCY at RM1.48, based on its technical charts.
"The stock has fallen back to its debut price after hitting a high of RM1.98. The pullback has been severe and does not look like a correction. We expect further price weakness in the medium term as it is now forming a bearish flag pattern," it said on July 20.
CIMB Research said a break below the RM1.44 would signal that prices are heading lower towards RM1.30, based on the height of the flag. There is also a good chance that it could even drop below RM1.30.
JCY'' manufactures hard disk drive mechanical components.
Company Name: JCY INTERNATIONAL BERHAD
Research House: CIMB
KUALA LUMPUR: Shares of JCY International Bhd fell to its lowest since listing to RM1.32 in late afternoon on Thursday, July 29 in very active trade.
At 3.35pm, it was down four sen to RM1.32 with 13.2 million shares done. Its highest was RM1.98.
It was listed on Feb 25 at an offer price of RM1.60. Since then, its share price is down 28 sen or 21%.
In a report issued on July 20, CIMB Equities Research had a Sell on JCY at RM1.48, based on its technical charts.
"The stock has fallen back to its debut price after hitting a high of RM1.98. The pullback has been severe and does not look like a correction. We expect further price weakness in the medium term as it is now forming a bearish flag pattern," it said on July 20.
CIMB Research said a break below the RM1.44 would signal that prices are heading lower towards RM1.30, based on the height of the flag. There is also a good chance that it could even drop below RM1.30.
JCY'' manufactures hard disk drive mechanical components.
More articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
1
2
Good Articles to Share
3
M+ Online Research Articles
4
5
MQ Market Updates
6
THE INVESTMENT APPROACH OF CALVIN TAN
7
BFM Podcast
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
