Koon Yew Yin's Blog
Hiap Teck price trend reversal - Koon Yew Yin
Koon Yew Yin
Publish date: Fri, 17 Dec 2021, 09:40 AM
Koon Yew Yin
0 1,428
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
Practically all Hiap Teck shareholders including myself have lost money because it has started dropping from 70 sen on 18th Oct to the lowest level at 44.5 sen on 6th Dec. It has dropped 25.5 sen or 36% within 2 months. It has been dropping quite rapidly to such a ridiculous price level as shown by the price chart below.
On 20 Nov the first day after the Budget 2022 announcement, Bursa Malaysia took a beating. The FBM KLCI, which is a gauge of the 30 biggest companies on Bursa Malaysia, dipped by 2.2%. RM34bil of market capitalisation was wiped off from the stock market, 178 stocks went up, 996 stocks dropped with 327 unchanged.
The biggest culprit is the prosperity tax increase from 24% to 33% for companies whose annual profit exceeding Rm 100 million. All investors especially institutional and foreign investors can foresee that practically all the larger capitalised companies will be affected by this new ruling.
I have written and posted a few articles to promote Hiap Teck based on facts and investment logic. If you want to know more about Hiap Teck you can read my articles. Hiap Teck should not be affected so badly by the new ruling. Unfortunately, the Budget proposal has dampened the overall market sentiment.
Hiap Teck price chart below shows that it has been going up on each of the last 8 trading days which indicates that its price trend reversal is confirmed. That also means that it is quite safe to buy an up-trending stock and I have been buy it in the last few days.
What is a stock price chart?
It is a record of the daily price movement. If there are more buyers than sellers its price will go up. On the contrary, if there are more sellers than buyers its price will drop. In the case of Hiap Teck, there were more buyers than sellers on each of the last 8 trading days. That means it is quite safe to buy Hiap Teck.
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Discussions
Be the first to like this. Showing 12 of 12 comments
Many may be spooked by the upcoming limitless stamping fee which can potentially slow down any form of "goreng" activity.
2021-12-17 09:50
Strange old bugger! First issue a buy call then later on tell us to sell! But then again, you know i know this old bugger is up to his old tricks! Few months later he will replay his old promotion! First he bash MCA, then brag how charitable he is! Then tell us how he bought Hiaptek cheap and encourage us to buy! Then daily buy calls on Hiaptek while he quietly sell! I mean, how foolish can we be!
2021-12-17 17:11
I was thinking of eating pineapple for breakfast, now I am thinking otherwise, but I will stick with 2 glasses of water.
Posted by Tobby > Dec 17, 2021 5:11 PM | Report Abuse
Strange old bugger! First issue a buy call then later on tell us to sell! But then again, you know i know this old bugger is up to his old tricks! Few months later he will replay his old promotion! First he bash MCA, then brag how charitable he is! Then tell us how he bought Hiaptek cheap and encourage us to buy! Then daily buy calls on Hiaptek while he quietly sell! I mean, how foolish can we be!
2021-12-17 17:14
KNN, at first I thought want to follow Koon Kor eat pineapple every morning to be able to live healthily till 80 years old. Now, I think better not. Later afternoon I cannot remember what I said in the morning and by night I cannot remember what I said or did during day time. When go to bed , cannot even recognize how my wife looks like. Pineapple effect
2021-12-18 04:13
wait what? there is another article by him asking ppl to sell hiapteck buy AYS published at the same time right? LOL.....old snake
2021-12-19 09:47
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2021-12-17 09:44