Today morning session, the trading is lack-lustre, the share reached the first session high at 0.15 and retraced to 0.14 before ending up the morning session at 0.145 with 100 units deal done. 0.145 remained as an immediate resistance. A few attempts to break through were fruitless. Most of investors are sitting on the fence awaiting for the fresh leads for the market as whole. Pending the latest updates of the changes of substantial shareholding announcements or perhaps no shares transacted from him (Tan Sri) from 29/1 till 30/1, which should be deem as a good news - signalling the end of force selling activity. Till the closure of morning session, technical oscillator RSI and MACD are flatten, suggest selling pressure is slowly out of the steam. However, we need the coming afternoon session to reconfirm this finding.

Comment from the trading screen (30/1/24) : - morning session the stock opened at 0.155 and recorded the intraday high at 0.160 subsequently headed to the south and bottom out at 0.135. At least 2 times witnessed some big players bought the stock at 0.14 with 5,000,000 to 7,000,000 units of share within "a minute". Suggesting, the bargaining-hunting activities are actively involved. The prices were slowly push to 0.145 before the closing. While the investors were aggressively grabbing the shares at 0.145 before the closing bell rang. Some peculiar things happened, again "a minute show" occurred more than 10,000,000 units of share were put up for sale at 4.59pm. This indicating the force selling activity has not yet exhausted. Perhaps became weak or vice versa. For sure, the answer will be unveiled on the next trading session.

Have a good rest and see you tomorrow.

Total direct and indirect shares disposed by Tan Sri is 7.97% (approximately to 246,751,200). Based on the shareholding as 26/12/23 minus with the shareholding as at 26/1/24.

thanks bro

Morning session up to 10.20am, the force selling is still persisted.... Any one have idea as at today how much is Tan Sri bleeding in RM?

Refer to this article : -
https://theedgemalaysia.com/node/698167

Choo1818 - A case study to Pharmaniaga which plunged into PN17, the share price dropped significantly from RM0.47 to RM0.22 (loss RM0.25/53%) within a single day (28/2/23). The stock managed to recover some of loss within 7 trading days to RM0.355 on 9/3/23 and it later consolidated within 6 trading days before resuming an new trend tend to the north. I put this as an example because the counter was sprung up very fast after the sharply declined which was very similar with those LD counters. Widad - experienced a sharp recovery which is almost 121% (RM0.115) from the lowest RM0.095. Profit taking activity is expected to persist in another 2-3 trading days before a new trend could be seen (depend on the buying momentum). Technical speaking, MACD curve is flatting and RSI is moving up from the lower which is indicating the previous downtrend is over. The stock could be trading higher provided no any other bad news influenced.

(Disclaimer : For case study purpose, do not deem as a buy/sell call.

Purchased JSB by foreign fund namely Morgan Stanley : from my understanding that someone may have use collateral account facilitated by Morgan Stanley in financing the purchasing of shares. The Bursa announcement stated Morgan Stanley may exercise its right to rehypothecate or dispose....

From the technical point of view : my analysis done on Retailer vs Banker chip among these 5 LD counters i.e. JSB, Sridge, SCIB, Atroniq and Widad which found the first 3 counters (JSB, Sridge, SCIB) showed Retailers liquidated some of their holdings. Even though, the Retailers are marginally disposing their position in Sridge but "the big boy" is still in controlled. The later (Atroniq and Widad) showed some big players are accumulating and holding the stock firmly with no sign of exit. Moreover, no Bankers are spotted for these 5 counters.

Although, Tan Sri and his team caught burnt in the recent small cap melt down, we should never underestimate his ability to recoup in short term.

(Disclaimer : for case study purpose, do not deem as a buy/sell call)

Have a good rest and enjoy your holiday. Bye and see you tomorrow.

Would agree with the opinion given by Johnny Cash as Dato E is on high leverage position because he keeps acquire assets (the listed companies). But the concerned is does he has enough cash flow to continue finance the acquisition costs? Moreover to service the existing loans may be in question. Only time can tell us later. According to his interview with the reporters. the target is to acquire 7-8 listed companies every year. Any mismatch of cash flow will eventually bring to disaster.

Try to avoid this counter, my sincere advice.

If suspended not only lost underwear but naked.

To my surprise, so far the share has been on upwards trajectory (from RM0.095 to RM0.21/ +RM0.115 or 121%) , technical reading is still did not show disposal signal from the retailers, however none of bankers are participated.

Chronology of event : -

On 18/1/24, when the "LD" triggered : on the morning session, in the first one hour, the trading of stock seem like (Widad) as usual excepted the share open half cent lower (which was RM.485) than the previous day. Surprise attack came about 10.45am the stock started plunged from RM0.45, less than 4 minutes it hit RM0.20.

For sharing purpose : post mortem on Widad share transaction done by the substantial shareholder Tan Sri. In between 26/12/23 till 15/1/24, Tan Sri disposed 3% of his stake. In the particular date i.e. 15/1/24, number of share disposed by him was approximately to 35% of total daily volume (Widad). The significantly offloading of shares made it "oversupply", couple with the weak market sentiment has triggered a panic selling further to the limit down on 18/1/24. 2 batches of shares belonged to Tan Sri were "force selling" at RM0.35 and RM0.20.

Expected to take 6-7 days to consolidate before resume an uptrend. This 3 billions shares counter need more times to digest.