Dow Jones closing up +1048.86, +5.2%, higher then the future.

We need to buy Glove to fight with the outbreak.

guys, the operator spent one hour (2:30pm - 3:30pm) to collect 1.48/1.49 and another one hour (3:30pm - 4:30pm) to collect 1.50/1.51 for total close to 10 million shares this afternoon on top of 7 million shares collected from 1.3 to 1.47 in the morning.

what do you think the purpose to acquire close to MYR 15 mil (1.48 - 1.51) within 2 hours ?

A) Just to push down the price tomorrow to 1.3 again for retailers to buy low so that retailers would not miss the opportunity.

or

B) Accumulating enough stocks before a surge.

@ Trouble Huat, good to see you here.

If I reference to past few rounds of rebound, it takes about few days to one week to reach the peak:

1) Jan 21st rebound from 1.33 => Jan 28th 1.93 (highest)

2) Feb 20th rebound from 1.52 => Feb 26th 1.71 (highest)

3) Feb 28th rebound from 1.53 => Mar 6th 1.8 (highest)

4) Mar 10th rebound from 1.66 => Mar 12th 1.86 (highest)

5) Mar 17th rebound from 1.3 => ?? (latest IB target price RM 2.00)

Last rebound last week was due to WHO described global COVID-19 outbreak as a pandemic by Mar 12th => price rally to 1.86.

1) Dow Jones future +800 points, +3.92%.
2) Announcement of glove factory exempted from the movement control
3) USD rate > MYR, benefit for P & L as products mainly for export
4) Land acquisition announcement to expand capacity
5) Buy call by IBs at MYR 2.00
6) Rebound from 1.3 to 1.51 (16%) today, bottom up
7) Demand > Supply due to outbreak
8) New production lines under testing to expand capacity

All the good news just in time to create another surge, hopefully from tomorrow onward.
Today's candlestick look similar to Jan 21st (rebound from bottom 1.33 to 1.46), and all the way surge up to 1.93 by Jan 28th, within a week.

@ jg349000, all operators playing all counters using almost the same tactic.

yesterday the operator sold down all the way from 1.71 to 1.53 to push down the price.
today they need to buy back enough stock from 1.3 to 1.52 before allow it to spike.

exactly, you got it right

the operator is very busy to sell from left hand to right hand, right hand buy from left hand at 1.5/1.51 to attract retailers to sell low to them before breaking 1.52. Already one hour.

My observation from all the TA indicators and chart, there is no evidence that KNM will rebound from current level.

IDSS since 10:10am inactive until now.

Accum 207900 units
RM 302k
Average 1.453 (already bough back their short sell volume this morning 10am+ at 1.43, their work done in the morning).

Big fish is now layer by layer slowly collect low from retailers , blocking at 1.52.
Once their collection done (since 1.3 until 1.51), expect a rebound.

there is no panic sell, only have strategic buy at 1.48/1.49 before a surge.

obviously the big fish block 1.5 to continue collect at 1.48, almost non-stop collect for one hour already.

If chase high may get trapped. Any technical rebound today shall take profit before it drop further tomorrow, today opening already broken SMA 200 which is bearish trend.

@ super_newbie, it is normal. So wait patiently to avoid further lose.

I read in details for the insider transactions, it was not entirely dispose only :

Mar 11th => disposed 15 mil shares & acquired 15 mil shares.

Mar 12th => disposed 17 mil shares & acquired 17 mil shares.

It looks more like doing intraday trading (in short, director may already became a contra kaki).

Good, just in time announcement, spike up to fight with the outbreak.

One more wave is welcome, this morning miss 1.3, it rebound too fast.

No, IDSS had been inactive since 10:10am until now.

It is the big fishes have not collect enough at 1.4x from retailers, so need to block the price at 1.5 again (break to 1.52 for awhile in the morning). It is normal for such thru & forte and slowly trend up. Important for retail trader is to buy when price was low, ride with the trend.

If it move up too fast, big fishes not able to collect enough stocks at low price.

Harta also thru & forte between 6.0x to 6.18 which is normal compare to lowest price today 5.68.

1.3x may not able to see anymore.

USD > RM and Glove demand > supply during outbreak will be the main two key factors for SMAX to rebound.

1.51 now

@small fly,

They short sell small volume today from 1.49 to 1.45 (9:44am to 10:10am) to press down the price and buy back at 1.43.

IDSS normally do not short in the afternoon, shall be done for today. From their behavior, we can estimate that the price is rebounding from bottom, chances that it will be up from current level will be higher then it will drop.

With lowest price today 0.58 and the chart is still bottomless.

TP need to adjust to 0.25 by QR release.

Situation get worse for airlines and a perform storm is forming.

IDSS seems inactive for one hour already, dare not further short.

Seems big fishes blocking 1.5 and want to collect maximum from retailers at 1.4x before allow to surge.

Harta already in green.

Bear market will normal takes 200+ days to convert to bull.

It will up/down +/- 1000 points as a norm during bear market.

Dow Jones future +644, +3.16%

IDSS still not much :

207900 units
RM 302k
Average 1.453

IDSS accum.

156300 units
RM 228k
Average 1.459

IDSS first volume in the morning :

19500 units @ 1.49
RM 29k

IDSS dare not short as it is bottom up rebound :

Harta RM 302k
TG RM 121k
Kossan zero
SMAX zero

+1 agreed. It does not make sense for glove to be the same as other industry.

It is the operator take the opportunity of last night situation to collect low this morning before another surge.

From the volume they block each price all the way from 1.3 to 1.47 can see the intention.

Up to now IDSS zero action.

within 20 min. already rebound from 1.3 to 1.47.
seems big fishes take the opportunities to collect all when ppl fear.

Opportunity to accumulate low this morning.

It is overreact by the movement restriction announcement + DJ dropped last night.

DJ future +413, +2.02%.

Revenue 0.775 lowest in first 5 min.

vs

Jaks 0.62 lowest in first 5 min.

Revenue will follow Jaks.

Do not catch the falling knife.

Opening 0.63 ~ 0.645.

Shall able to see 0.5x today.

Target price 0.405.

Opening will be 0.095 or below, the drop is much faster then estimation.

With the formation of perfect storm, 0.07 may not be the lowest.

The buy Q is 10 times lower then sell Q.

Opening will break another new low.

0.5x is not far away.

will mask factory close down during the outbreak in China ? answer is No, in fact mask capacity being expanded at least double in Q1 and running production 24/7.

Glove should be equivalent important and suppose to be exempted, it is a need.

with the latest restricted movement announcement, plus the price almost dropping about 10 cents per day and with no sign that the speed of dropping will be slowing down, AA is in free fall situation.

We set target price of 0.07 without considered in margin call for directors.

+1 agree with Friendship and masterkevin.

@ WilliamUsana, welcome.

Sardine on leave already ?
We need general Sardine to provide guidance as something very wrong here that directors massively disposed shares at low price.

They acquired at high price last year and Jan this year, disposed by March when it dropped to 0.1x ??

Something very wrong here...

@ Flintstones, once SMA 200 broken, it will be a free fall. Need to patiently wait for downtrend ended, reverse to uptrend, then only enter at the point of golden crossover. Nobody know what price will be the crossover. Need to monitor and it may takes months.

@ Trouble Huat, wait for golden crossover only enter.

Hope everyone in this forum sold on time in past one month and not being trapped in.

IDSS's target actually already switch to Harta & Top Glove :

Short Selling today :

Harta = RM 6.07 mil

Top Glove = RM 4.73 mil

Supermx = RM 799k at average price of 1.605 (only 498400 units)

Kossan = RM 336k

The volume that IDSS short sell at SMAX is not much, and in fact it is getting lesser compare to last week.

Free fall today is expected as SMA 200 broken last Friday, confidence level also broken.

Revenue use to be traded at the same price with Jaks at 1.4x last month.

Jaks is traded at 0.7 at today's closing after SMA 200 broken last week, seems Revenue may follow.