Even a loss making company like Glotec is coming back alive today with huge volume...that is a case of " salted fish comes alive...(ham yi fan sang?)". What about a profit making company like Systech? Ask yourself. I prefer profit making company with double digit growth..you won't go wrong. Lets see if it will rebound stronger later as it always does.
Contra players safer to take profit...and come back later. Market is red... If volume is coming back then further buy. T+4 heavy selling anticipated this evening....hope Systech can weather the storm....
Yesterday they blocked it at 38 sen.... today they blocked it at 37 sen...however the block of shares breached.... causing a further fall to 36.5... Don't look good...volume is too thin...contra players will need to sell...if not they have to pick up.
Cash buyers ready to buy cheap...but they are still waiting for the price to stabilize. Those contra players must now monitor this share closely...36.5 sen is a very critical support.
Problem is actually due to the fall in ringgit...The Singapore dollar tumbled as much as 1.35% against the US dollar yesterday, as the ringgit fell in tandem. The market reacted strongly and after so many bad news, Systech succumbed to profit taking and nervousness of investors to lock in profit.
@brutusbeefcake I noticed it gapped down this morning..opening at 38 sen compare to yesterday closing of 38.5 sen. So it is weak today with price going downwards. Sell signal trigger if it close below 36.5 sen. If it close above 38 sen "closing the gap" high chance it will go further up. Until then just monitor.
Just to inform you guys that there might be more selling tomorrow because it will be long weekend. Monday is Federal Territory day and Tuesday is Thaipusam.
All because of the oil price falling again to a lowest level ... due to over supply. And DJIA was down for 2 days nearly 200 points..for those with cash you can pick up cheap shares. But those playing contra must cut to avoid further losses. Can always come back again when the dust settles. Right now we don't know if it will go up again as the volume is too thin. Until we see a spike in volume, we cannot make sure Systech will resume its uptrend. Trade with care comrades.
Yeah...as always but not sure if tomorrow further sell...volume is too thin. Must watch for volume to determine if the uptrend is sustainable... just monitor.
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richkid
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Posted by richkid > 2015-01-29 10:44 | Report Abuse
Even a loss making company like Glotec is coming back alive today with huge volume...that is a case of " salted fish comes alive...(ham yi fan sang?)". What about a profit making company like Systech? Ask yourself. I prefer profit making company with double digit growth..you won't go wrong. Lets see if it will rebound stronger later as it always does.