Steel and commodity stocks are not buy and hold but cyclical. Buy during cycle low, sell during cycle high, easily beat 3% per annum for past 10 years.
@moneycome123456, my understanding is that ordinary shareholders do not get the 1.25 sen/share dividend. That is only for Redeemable Convertible Preference Shareholders (RCPS).
1.21 close this evening is nice. I think 60/40 chance, the market psychology for ANNJOO has changed and the stock is no longer bearish, after it held above the 200dMA for the 2nd round and the 2nd time. As tempting as it maybe to sell and take profits from my 2nd round purchase near RM1.01, RM1, RM1.02, the smart play now is ignore and let it climb the wall of worry. The first target should at least be 50% of the Fibonacci Retracement which is around RM1.26, although the 61.8% is more critical at RM1.33. Sometimes, these may act as "magnets". Nothing is guaranteed in trading.
OMG! Click Price Target and see how bearish KENANGA is. 8 Sell Calls and reiterating Sell Calls when ANNJOO is 1.03-1.05. These are the prices I bought around 1 to 1.02.
It never pays to follow the Analysts. Sometimes, trading against them is more profitable.
ANNJOO is a cyclical company and the trading strategy for cyclicals is easy if you are a chartist technician - just trade the cycles. Buy during the low of the cycles, and sell into strength as the upward cycles accelerates, rinse and repeat.
Are you blind STFLoser? Or you hv dementia? You didn’t know my recent investment in MI, Greatec, Permata all green and uptrend? Haha… I m laughing to the bank, dude!
Annjoo is one of the companies that could not only sell steels to local MRT/LRT and mega projects, but also could export steels to Ukraine/ Gaza for rebuilding purposes. Haha…
Collected ANNJOO at 1.08, after selling at 1.26 - paid myself a gross dividend of 18 sen :-). Nice price action today. Good price rise, good volume. Looks like majority odds swing low is printed. Now, just ride ...
Thanks to ANNJOO, my portfolio made a new all time high again today! I think many players with exposures should do well too as KLCI printed +15.12 points. Hope everyone is happy!
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....
hng33
19,578 posts
Posted by hng33 > 2023-05-19 16:09 | Report Abuse
bought last batch at 1.09