Price retraced around 40% from previous high, may rebound or drop further till 50% or 62% based on fibonacci theory. ya, if solely looking at 66k from yesterday, it is not an issue but around 500k lots had been dumped since 4 days ago, I think should be those smaller alligators are playing around for quick money, they like stock with a rumours such as privatisation, merger, winning of mega project.... It is not surprise if they use privatisation as a goreng topic to earn some money from us. I really don't like 0.2 closing yesterday as it break my internal guideline, support is weak, I hope it will rebound today. For long term investor, just keep it, don't look at short term fluctuation if you got confidence to it.
Should play catch-up to BJCorp today. According to BJCorp's latest Qtr. results just released, made a loss of RM 110.4 million after tax & minority interest on a Turnover of 1.42 Billion and still worth 25.5 sens?
If history could have repeatedly as in 2008 when Dow dropped close to 50% within 4 months , then when Dow drop to 13500 point,, bursa will be below 750 point
i think DJ is just part of the factors, Malaysia itself is having problem, DJ up 200 plus points yesterday but u can see KLSE is in red now, even sometimes other market dropped a bit but KLSE drops a lot in term of % and our RM is weakening too..really risky
Thiese 2 days before 3rd September is the end of 6 months from the Penta 38/30 deal with BJCorp for BJLand shares, very important for VT to calculate the 5 days VWAP needed for the initial offer? so don't be distracted by the noise.
Similarly the Dow went up 258.2 points yesterday because recession isn't happening tomorrow so don't pour away the water just because of the sound of thunder.
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Superb99
6,599 posts
Posted by Superb99 > 2019-08-29 08:12 | Report Abuse
Price retraced around 40% from previous high, may rebound or drop further till 50% or 62% based on fibonacci theory. ya, if solely looking at 66k from yesterday, it is not an issue but around 500k lots had been dumped since 4 days ago, I think should be those smaller alligators are playing around for quick money, they like stock with a rumours such as privatisation, merger, winning of mega project.... It is not surprise if they use privatisation as a goreng topic to earn some money from us. I really don't like 0.2 closing yesterday as it break my internal guideline, support is weak, I hope it will rebound today. For long term investor, just keep it, don't look at short term fluctuation if you got confidence to it.