Recently, the penny stock frenzy has been aweing investors all across the nation.
However, this penny stock has rather caught my attention and I would say, surprised me !
Here's a gentle reminder of what happened 5 months ago. Take a look at this Technical Analaysis.
(Source : tradesignum.com)
In the recent months, this counter has reached a high of RM0.215. However, in June, there was a huge selloff, panicking and flushing out most speculators and investors. In my very humble opinion, I believe that this stock has bottomed out and could see more upside potential. The MACD signal looks fantastic, right at the 0 mark. There was also large volume spikes in the recent month. Something fishy going on? Watch out for this one !
Immediate resistance : RM0.15
Support at RM0.125
Should the RM0.15 resistance be broken, expect the Rm 0.20 level to be tested again.
Potential Catalysts: - Good earnings report this week .
- New partnerships with top firms in the industry
- New and fresh customers
Downside : -Unexpected new challenges/competitors/ lack of new projects
- Bad earnings report.
If this counter manages to find a perfect niche in this industry , then i would say it has a great future ahead. We all know too well about the explosive growth of Tech counters such as Dsonic and Pestech... Not too long ago, they were also penny stocks..
Created by Foresight123 | Aug 19, 2014
1901
i see
2014-08-25 13:16