Magni partnered with Nike for years (apple term for sports apparel). I dont think ESG would be an issue. Lockdown n poor quarter is probably why. Company is net cash. So just sit tight and topup bit by bit. That said near term sentiments are poor generally. Expect to reach 1.8ish.
Casino royale money is back to Magni! Magni is deeply undervalued, a diamond not to miss at the moment! World Cup 2022 is coming up, expected high football jersey demand, earning in the form of USD, of course the highlight of cash per share 0.91… hence, personally believe management will give out high dividends payout in December 2022… Cheers!
The stock rose and broke the psychological barrier of RM2.00 with a white bullish candle. Prices are firmly above all 20-day, 50-day and 200-day Moving Average (MA) with higher trading volume. The positive move is supported by Quarter 1 FY 2024 earnings announcement on 11-Sep with Q1 earnings +27% QoQ and 36% YoY. We anticipate further gains due to positive technical breakouts and improved fundamentals.
Both the MACD and RSI have continued to rise, suggesting an increase in buying momentum.
The strategy is to long Magni with a stop-loss set at RM1.92 (a tick above 20-day MA). This breakout could drive prices upward, targeting historical resistance levels at RM2.37 and RM2.50.
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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....
Begineer
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Posted by Begineer > 2021-11-24 21:52 | Report Abuse
The complete vaccination rate is ~50%. It's going to get better