It will further down and sideways at least for few months to digest coming approval of J&J vaccines this week which is single shot vaccine... sentiment very bad for glove counters for next few months. Hehehe... unless china covid 19 spike up during CNY holiday..
I belief that in the past few months, many investors bought their shares in between 50cts to 1.00, many investors are trapped, for those who are selling their shares now are in big losses, I don't see any good reason for them to sell below 30 cts, unless they are hardup for money, or they are contra players or may be forced selling by their remisiers. Market drops below it NTA of 40 cts, actually this is the good opportunity for you to pick up the shares for investment. it has been dropping for nearly 10 days, could it be syndicates pressing down the price and they keep on collecting the shares quietly for their own good. It is very low price now, you should temporarily hold it and wait until you make profit then you only dispose it. currently, the company's financial position still look healthy. happy trading to all existing shareholders.
the selling price has almost come to the dead end, it will stop there either for another 2 days or to have a U Turn or V Turn later, waiting patiently and see how it goes ? Balance float in the market is only 18%, 82% is held by 30 largest shareholders, I don't belief that the selling pressure comes from anyone of the 30 largest shareholders. Moreover out of the 82%, about 40% (+/-) is in the hands of Singapore Cos and singaprean shareholders. Like Pennyloo said, the counter will not be going southwards forever. don't follow the syndicate to sell your shares because they frighten the panic shareholders selling the shares to them at loss. I am personally confident that this counter will rebounces.
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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....
HamsterHuat
2,852 posts
Posted by HamsterHuat > 2021-01-24 11:47 | Report Abuse
mana 20 cent saya....Hoot9e..