The KLCI and Oil price charts are self-explanatory. The 2 charts show that our Malaysian stock market has been depressed. Practically all the listed shares have been dropping quite rapidly. Until Covid 19 pandemic is under control, almost all listed stocks will continue to drop.
Based on price chart
The above Dayang price chart shows that it has dropped from Rm 2.95 to the lowest of 76 sen and rebounded quite rapidly. Unfortunately, it has been dropping in the last few days which indicates that the trend reversal is not sustainable. If you just based on price chart, it is not safe to buy Dayang at this price level.
Based on fundamentals
Let us examine the basic fundamentals concerning Dayang’s business. Due to the shutdown of all the major cities around the world, air flights, railways and motor vehicles movement are restricted. As a result, the demand for oil will be greatly reduced. Petronas has already announced that the company has shut down a few of its oil rigs which will affect Dayang’s future revenue and profit.
As you know, all the major cities are shutdown, more people are using face masks when they go out and people are practising social distancing seriously. I believe Covid 19 pandemic will be over in a few months. Until all the people are free to move about, the demand for oil will remained bleak.
I have sold all my shares even at a loss. I will only start buying Dayang again when its price chart is showing a definite up trend and the oil price recovers to a more reasonable level so that Petronas will increase its operation.
Created by Koon Yew Yin | May 13, 2024
Eversendai Corporation Berhad recently reported its earnings results for the fourth quarter ended December 31, 2023. Here are the key financial highlights:
Created by Koon Yew Yin | May 06, 2024
Eversendai Corporation Berhad made a remarkable comeback in FY2023, reporting strong profit growth. Here are the key highlights from their financial performance:
Created by Koon Yew Yin | Apr 30, 2024
As shown on the chart below, Sendai has been dropping in the last few days. Today all shareholders must be wondering to sell, hold on or to buy some at a cheaper price.
Created by Koon Yew Yin | Apr 22, 2024
Eversendai Corporation Berhad made a remarkable comeback in FY2023, reporting strong profit growth. Here are the key highlights from their financial performance:
Created by Koon Yew Yin | Apr 22, 2024
Sendai price chart below is showing its price trend reversal. It is hitting a record high.
Created by Koon Yew Yin | Apr 18, 2024
After the stock closed yesterday, KSL announced its 4th quarter EPS which is 40.76 sen and its net tangible asset (NTA) backing of Rm 3.65. Its profit increased by 230% more than last year.
Created by Koon Yew Yin | Mar 29, 2024
Currently Sabah Government does not know that solar panel produces the cheapest electricity???
Created by Koon Yew Yin | Mar 23, 2024
During my life time I saw every Prime Minister being replaced by another politician for one reason or another. Dr Mahathir managed to stay the longest time of 22 years.
Created by Koon Yew Yin | Mar 04, 2024
All property developers have just announced their annual profit for 2023. All of them reported increased profit.
Created by Koon Yew Yin | Mar 04, 2024
Although my writing of this article sounds boastful but I feel that it is important to keep this record for posterity. Engineers play a pivotal role in shaping our modern world.