At the AGM held on 30.8.17, the management said that the poor quarter was because they were focusing in building up Lumiqs at the expense of the other sectors. They didn't give any guidance for the next quarter. This, I think, is why the stock has such a drastic drop in its price. The fundamentals of the company is intact. Its balance sheet is very strong with lots of cash and zero borrowings. Smart LED lighting is for the future. And this is what the company is focusing on now. The stock price is down, but the company is definitely not out. TA-wise, the downtrend is not reversed yet. Support is likely to come in at 2.50. Now is the time to watch the stock closely. Until you see a bullish buy signal, keep your gun powder dry.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 5769 views | 5 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
VenFx
14,784 posts
Posted by VenFx > 2017-10-15 21:53 | Report Abuse
Interesting way .like