Apparently, operators are manipulating the market by creating a fake phenomenon that this company is not valuable when in fact this company has not lost any money. In contrary, they got a profitable contract with a Thai company to supply testing aid kit.
It’s just operators trying to manipulate price notwithstanding no fundamental change to company. The company should be making more money with the contract, not losing more money. It surely will rebound because it’s undervalued at the moment.
Initially, i entered at 0.41 on this counter because i saw directors spent MYR4 mil to purchase this counter. I realized my profit at 0.475. I feel sorry who bought today, especially after 0.48. Anyway, this counter seems to be more forgiving than BCMALL.
Given the unchanged fundamentals of the company, I entered at 0.245 of 11,500 shares. I think it’s justified due to the resistance price level at 0.24. Perhaps that the price won’t rebound within days or weeks, but certainly it would rebound given the profit brought in by latest contract and gradual recovery of Malaysian economy from MCO
This counter has strong, solid earning that will eventually transfer itself to the main board within one year. After penetrating the Muslim-majority area in China, net profit shall increase in comparison with domestic market. Buy more while you can!
Tech rally seems to end this week due to the release of report regarding to slower download speed by modern semiconductor in the pending iPhone 8. But the trend seems to be short term due to no substantial change in the fundamentals of tech companies and their profitability.