Affirmed Change of Hand – D’NONCE TECHNOLOGY BERHAD (KLSE: 7114)

Since the “dramatic” ups and downs for DNONCE, we can finally confirm, that a change of hand behind the company is inevitable. Based on the announcements dated 3^rd September 2021, Mr. Leong Choon Fai had been appointed as one of the INED of the company.

Based on his profile, he was previously involved in Allianz General Insurance, Mui CAN, Lonpac Insurance and so forth.

From the chart’s point of view, we can tell that DNONCE had crazy amount of interest back to the company judging from the price movement – basically, most if not all retailers really got “washed-out” this time.

Question: Is it too late to buy DNONCE now?

Answer: I think not. The buying momentum is very likely real, and this is most likely an action of accumulation of more shares from the open public after the share price drastically went down and created a lot of sellers. The next immediate resistance of DNONCE would be 58.0 / 60.0 cents, above that then probably like what the punters like to say – SKY IS THE LIMIT.

Anyhow, DNONCE’s fundamental is considered “ok-lah”. So maybe stop abusing the management anymore, they did a great job turning around the company.

Cheers!