Let's get back on track and dismiss the perceived conspiracy theories, for now anyway. Could this current price drop be simply a matter of the stock being previously overpriced?

Without deep drilling into their quarterly financials, let's assume that the reported headline numbers are legit, i.e., Revenue, Net Profit and EPS.

Current FY2021 three reported quarterly EPS numbers (recent first):
Q3: 1.82 cents
Q2: 0.87 cents
Q1: 1.50 cents
Total for 3 quarters: 4.19 cents.
Let's assume their Q4 EPS matches their record high Q3 results and add in that figure to the current three quarters: 4.19 cents + 1.82= 6.01 cents.

So, an annual EPS of 6.01.

Now the BIG question for holders and potential investors, what realistic P/E Ratio would you apply to this industry? Keep in mind that the industry they supply (glove companies) are reporting low P/E's because the market doesn't believe current profits for the industry can be sustained long term. Currently Top Glove have a PE around 5, Supermax now below 3.

In summary, let's wait and see what they deliver this month for their 4th quarterly results and perhaps consider what you believe is a realistic PE for your eventual valuation.

All the best.

No problem, Sunny.......best of luck.

Technically it looks to be about to test the 7th December intraday low of 45 cents. Too early to say if yesterday's (Friday) price drop on increased volume is capitulation but if I was a holder then I'd be hoping it was.

A break below 45/46 could turn ugly, so I definitely hope that is not the outcome for holders. Downtrend Fibonacci figures for a break of 46 are, 40,33.5 and 28.5. Those numbers indicate how important this 45/46 support level is!

Disclaimer: Purely technical interest for me here as I'm not a holder.
Hope you all get a price turn around next week.

Sunshine123 Vincenteoh29 ... explain a bit about double bottom please.
02/06/2021 11:23 AM

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Sunshine, if I may.......
It refers to a lady's insatiable desire for cream cakes.

Sorry.....I just couldn't resist commenting :)

Broken below 1,595....damn.
Just when an upward move was a possibility.....ho hum~~~

KLCI first hour high of 1,599.72, huffing and puffing to try and break the 1,600 barrier.
Tenaga huffing and puffing around the Rm10 level.

It would be nice to see the KLCI break above 1,600 today, although the Covid new cases and death toll keeps a nasty black cloud over our overall market. My gut feeling for today is that 1,600 could be broken, with the big question being can it remain above that level.

For me, a break over 1,600 should push Tenaga finally over that Rm10 psychological barrier.

Let's see, fingers crossed.

iHunter, you are talking absolute garbage yet again.

You say....."Now not only KWAP selling, EPF also starting selling. Most of the hedge fund started to exit from this counter but retailers are buying......".
EPF sold 45,000 shares....lol....peanuts in comparison to their total holding of over 1 Billion shares......let me repeat that, as you seem a bit distant from reality, ONE BILLION Shares.

Another gem from you......" Industry and rakyat now waiting announce from government about further incentive to reduce burden of rakyat which TNB expected to provide further discount on their bills".

Well, that is factually correct, people are asking for discounts to their accounts...BUT....you are clearly not aware that those discounts in the recent past have been paid by government relief schemes, NOT directly from the Tenaga bottom line.

I'm not too sure whether you have an agenda or are either naive or perhaps a bit simple, but you do need to have a good hard look at yourself. I'd suggest you read ALL the posts YOU have posted on this thread, and there are many, to see if there is any actual sense to your posts, then try and work out whether you may need some professional assistance, be that medically or financially.

"Earth to iHunter, do you read me......earth to iHunter, please give last location.......".

I decided to put a couple of bids in at 1.17 and 1.18 before open, hoping for an initial panic dump. Close, but no cigar :((
Back to the drawing board~~~

A decent quarterly result. Revenue came in higher than I'd expected at 11.48 Billion, with my estimation being 11 Billion at the upper level.

Comfortable with my holding with expectations of a higher share price throughout the year.

Yep, needs to break 1.24, then we MIGHT see it back at 1.28/1.30.
I've been quite impressed with their last two quarterlies, as they seem to be getting some traction in the business model changes. That bodes well for the future when we eventually get out of this Covid shambles.

I remain a holder but have not picked up any extra trading stock.

Thanks Aries. I thought I might be having a brain fade about Vietnam, as I couldn't recall them mentioning it before. Glad to see that this Covid environment hasn't completely messed with my memory bank :)

All the best.

Hi Aries, good to see you posting again on Solarvest.
I read through the quarterly and also noticed that they are now looking at projects in Vietnam. Is this the first time Vietnam has been mentioned by them, as I can't recall reading about that in the past?

All the best and let's keep following this growth story.

If you scroll down to the last few pages of the report the company gives the various reasons for the quarterly loss.
Transportation/ logistic costs are one of the primary factors, all related to the price hikes worldwide due to Covid.Clearly this will gradually change as the logistic problems faced worldwide start to ease and return to some sort of normality.
I'll remain a holder with a six to twelve month investment focus to see how this eventually plays out.

A solid quarterly report, especially in these current difficult (Covid) times.
The highest quarterly net profit since listing on the exchange, well done Solarvest.
The profit path is following the company's projections, so as a sharehiolder I'm pleased with their delivery. Growth is the name of the game.

Sharan Raj, you comments fail to give any insight to the root cause and merely target the profit of the publicly listed company.

It is not Tenaga's role to issue blanket refunds to their customers. The issue has been addressed by the government and they have made what they believe are the necessary financial aid packages.

Econpile secures their second contract in a week, with this latest one for Rm64 Million and a RM27 Million earlier in the week.
It probably wont do much for the share price in this current market mode but it's good to see them picking up significant projects.
The Rm340 Million+ Cambodian project is estimated to start adding to their financials commencing in July and run for 8 quarters.

Taking into consideration the current covid situation, I would have thought this is a very good quarterly result.
Revenue mainly in line or marginally higher than I expected.

Watching this afternoon's overall market action, there are some possible indicators of a full lockdown coming.

It should be out sometime next week.

Who knows?...lol
I'm not expecting any major changes to the upside or downside in regards to revenue. Ball park revenue figures for the quarter should be
around Rm10 Billion to Rm11 Billion, IMO. Anything over Rm11 Billion would be a bonus.

Later next week.

Yep, the circus continues to roll along with all the clowns taking centre stage.
Perhaps naively, I used to have hope for this country but even that thought is steadily going out the window.
May possibly see a knee jerk reaction on Monday to the latest news with the funds taking the opportunity to drop the price.

Oh well, such is life ~~~

Well, so much for Karex taking on TP1 at 75 cents during the past week, thank you very much Mr. Covid. All the good work that has been done during the last month of a nice steady price rise was flushed down the pan throughout the week, along with many other stocks.

The question now is, will it resume it's former upward momentum now that things have settled down a bit....for now anyway?

Only time will tell.....good luck to holders ( me included).

What a week! Yet another week of Covid affecting the overall market, no surprises there, unfortunately.
For the short term at least, there was at least a couple of positives, although there is no guarantee they will remain. The KLCI support of 1,555 remained in place as we saw an upward bounce from 1,556. As for Aeon, it was able to hold the 1.17 support level so now needs to break the former 1.24 support level to have any chance of moving upwards.

If only I had a crystal ball to know if that will happen. Overall market sentiment is weak and non committal, so I'm not holding my breath for a strong rebound for now.
The Quarterly should be out in around 2 weeks time but will any positive news be enough to help a price rise? I've got no bloody idea :)
Good luck....and stay safe and smart.

lol.....is that a serious question?

The Covid effect strikes yet again.

No problems, Melissa.
Patience is the key in this current market environment, as there is a total lack of confidence and commitment from the buyers of many stocks. Most price rises get hit with plenty of sellers happy to take the cash for now. I'd like to see the Bursa eventually move to at least a minimum of 1630 and remain above that level, then we might see more interest from buyers of stocks. With Covid numbers rising daily here, it's hard to know when that will happen. Add the political shambles to the mix and it's no wonder that we are in this current mode.

My tip.....open a bottle of wine and enjoy each day until a change comes :)

It appears to be shaping up to take on TP1 (75 cents) sometime during the upcoming week. Slow and steady please, no silly price spikes to distort the chart :)

henry.........you brought up RSS, although I'm not sure why you did. There are no short positions listed for any short selling of Karex.
I think recent interest is mainly due to their planned "turnaround" story, meaning higher margins and profits anticipated this year after a few years of depressed profit margins. Also, you have the glove story which is expected to go into full production in July/August this year.

Take a look at the Mah Sing chart over the past 2 months and you may see some early sign similarities to the current Karex creep up in price. Similar story there regarding upcoming glove production.

I'm not saying Karex will follow the Mah Sing move but there is a possibility as we move closer to June/July.

Melissa, they will be chasing large civil projects, so hopefully they will get some of the major government incentive mega projects that have been announced.
The Cambodia project they secured late last year should also be due for a start in the very near future. That project was for a 30 month time scale for a total of Rm347 Million, so over 8 quarters it should add an average of Rm43 million per quarter to their revenue figures.

The price action has behaved quite nicely over the past 2 or 3 weeks, with a gradual move up and solid volume on the up days.
Currently taking a breather for consolidation with lower volumes, which is nice to see.
Some price targets to look out for over the coming weeks:

TP1: 75.0
TP2: 78.0
TP3: 83.0

A slow and steady upward trend would be my hope. A solid Quarterly report may help support that theory. The next Quarterly is due in 3 to 4 weeks time. Beyond that, there should be more detail about timing of their first glove production run, so that news might come out sometime during June.
Perhaps an interesting couple of months coming up....I certainly hope so.

Let's keep a close eye on this one next week for any indicators that it might move up leading to their Quarterly results. We know what happened in the lead up to the last Quarterly, so maybe, just MAYBE we might see something similar. Nothing showing yet to indicate it will happen but worth keeping an eye on volume increases.

There goes the 47/47.5 support.

There is not much I can disagree with in regards to Kenaga;s latest technical offering.......https://klse.i3investor.com/blogs/kenangaresearch/2021-04-22-story-h1564079263-Daily_technical_highlights_ndash_ECONBHD_UMW.jsp

The price has been able to remain above the 47/47.5 support level for quite some time now but really needs to take on the 50 cent price point. It obviously hasn't happened yet but I'm still waiting in anticipation. The current overall market/ Covid situation hasn't helped the cause but I still believe it should eventually happen.

Best of luck.

The highest volume for 4 months and closing only one cent off the day's high, not a bad effort.
Maybe (hope) it might follow a similar pathway as Mah Sing did leading up to confirmation of its first glove manufacture date. That was a very gradual move upwards over a month or two then the "bang" on news of first production confirmation. Check the Mah Sing chart to see what I mean.

We can only hope so :)

First glove production estimate for Karex is July. Until then, keep buying and using their condoms.....the serious bulls amongst us can maybe double up and use two for even more protection , it all helps the Karex business. :))

It might be worth a buy and hold until at least the end of the year, to see how their profit projections turn out. I'm holding but not expecting any major price surges in the short term but perhaps a gradual move up throughout the rest of the year.

An article worth reading from about a month ago..............https://www.klsescreener.com/v2/news/view/802821/karex-to-see-earnings-recovery-from-obm-and-gloves-says-hlib

Darren, on that day the price low was 10.38 and the day high was 10.44.
I'm not sure where you got the 9.50 to 10.00.
Also, I wouldn't read too much into the major instos like EPF or KWSP regarding their buying and selling. Their reasons and motivation are totally different to the regular retailer.

Darren, you said they were selling at 9.50-10 only 30 days ago? I think you are probably mistaken. I was buying below 10.00 but that was back in January.

Darren, you just need to look at the overall market, sentiment is low and can't decide on direction.
This fallacy that keeps getting pushed about everyone getting the vaccine will bring everything back to normal is not rational, IMO. We will/are recovering slightly but I can't see us getting back to "normal", meaning pre Covid times, until late 2022. Add Malaysian politics into the mix and it's easy to see why there is no real commitment in the overall market, IMO.

I disagree with a few IB's calls of Rm12.50 for Tenaga this year because those figures assume a full recovery and economy sitting at pre Covid times. However, I do think with a partial recovery this year I'd expect Tenaga to be at least Rm11.20 sometime this year. The question is though, where will it go to before that happens?

Just my opinion, others will possibly disagree.

A quick check shows that there has been no shorting of this stock this week. Could have maybe expected some on the high volume/rise on Tuesday but nothing, so that's a positive, IMO.
Let's blame the covid sentiment for the drop, for now anyway.

I had to go out in the afternoon so missed all the "action" at the lower levels. It looks like it was low volume, so not too damaging.
Now back at that mystical and magical 1.31 yet again, so I guess we have to see what the overall market delivers us today.

Newbaby....just ignore the garbage but don't forget to click the "Report Abuse" button.
Look on the bright side, you'll be getting your dividend tomorrow. As you're in Kelantan, don't dance when you get it :)

Is it a fake break or a retrace consolidation?
Wouldn't want to see it close below 1.33/1.34.

Do you get paid for posting this crap all over the website, or are you just a brain dead jerk with too much time on your hands?
If you're getting paid then you should be doing a MUCH better job than the current garbage you spew.

Hi Wen Jun, I can see how you mention 1.39 as a target but I think that is fairly irrelevant. That 10th and 11th March area is, to me anyway, simply an overshoot area, as the highest close on those days was 1.36.

If this is a serious break to the upside, then 1.44 would be around my first bus stop.

All the best.

This break to the upside has started earlier than I thought it might have. The bollinger bands were showing that something had to eventually give and that seems to have happened today.
Very good initial volume today with good consolidation during the afternoon session. Let's see if it can follow through on its good work today by strengthening in the upcoming days.

Needs to close above 1.34, IMO.
Impressive so far, though......but too early to say for sure.

I spent a bit of time yesterday digging into the technicals to try and get a clearer picture of this stock. It will probably bore the backside off most in here but I think there are some other technical readers that might be interested.

This current rising pattern started at the beginning of February when the price was 0.915 cents. That was just over 2 months ago, however the rise was mainly all done in the fist month, Feb2 @0.915 to March 4, 1.34, around a 46% rise. For the second month it has mainly been going through consolidation/distribution around the 1.30 +/- area and not giving back much of that 40%+ rise, that's quite impressive considering overall market sentiment during that month. The first retrace point of that rise was 1.24 (second retrace point was 1.17) and with only a couple of very brief intraday drops to the 1.24 level during the month, the 1.24 price point was always respected and not broken.
Throughout the past month the Bursa has been volatile (understatement), however this has had very little effect on the Aeon price, which has been a surprise for me. Due to the tight price range that it has been trading in for just over a month, the Bollinger Bands have gradually tightened. The last 3 weeks end of week BB gaps have dropped from 14.21 to 9.32, then to 6.50 last Friday(9th). If it remains at the same rate it is possible by next Friday it could be at 4 or less...very tight. Eventually something has to give. I'll be watching that indicator closely during this current week.

Other indicators I use are showing neutral to positive.
MACD is gradually tightening and showing possible signs of a crossover either later this week or the following week.
Volume has been relatively soft over the past month, so I suggest monitoring that to see any signs of increased interest/volume.

A final thought......the start of the last rise commenced about 4 weeks prior to the release of the Quarterly, so could we see a similar pattern here, or perhaps even a few weeks earlier? The next Quarterly is due around May 24.

My Fib points if it was to break 1.33/1.34 with volume are:
TP 1: 1.44
TP 2: 1.50
TP 3: 1.55

ps. For Wen Jun. A couple of weeks ago you mentioned a possible bull flag pointing to the 1.70-1.75 area. The Fib TP5 is actually at 1.76 but I think think it would take some very extraordinary news or a bumper Quarterly to get anywhere near there. I guess stranger things have happened, though...lol :)

Let's not get ahead of ourselves though, it has to break 1.34 before it's going anywhere. Will it, won't it? We'll eventually find out.