U have to believe in the counter if it has excellent fundamentals. I saw the same trend happening with Canone. Went up to 4.15 few weeks ago and then retraced all the way back to 3.60..Remained sideways for several days before it exploded today to 4.62. Operator will always do this trick to create less resistance for the next wave.
My feeling is that pmbtech price might go down to the low 11s to bring down the rsi before it rebounds strongly. Rsi now still in the 60s. Once it's in the 50s u can collect again aggressively.
Technically, appears price drifting on a downtrend channel and no sign yet of reversal. best to watch before catching the falling knive till it seen settled down.
EV + ES ECONOMY IS HERE N JUST GETTING STARTED IN THE WORLD = THE HAPPENING BLUE OCEAN BIZ
What's the best proven biz model now to be super RICH = the truly skim cepat kaya.raya?
PMETAL's biz model is the best of the best to follow... WHY? PMETAL is now worth $47 billion in just < 5 short years. n would be on the journey to be the # 1 mkt cap stock on KLSE in the next few years, by courtesy of EV.ECONOMY.
STOCKS that begin to follow this similar proven biz model as EV.METAL producers on BAKUN HE = r GIANT stocks in the making = we enter n hold tight.tight to be rich.,.
closing price only show a short typed hammer and not able to hold above the 11.60 that indicate still have weakness as of today. Seller force seems in control. hope next week it still able to support the 11.00 level to form a sideway pattern. Otherwise breaking it will see 10.50 support level. Volume still high though. Technically may revisiting the MA20 if weakness persist. wish for the best next week.
Once the price stabilises, it will tend to range sideways maybe few days. Then it will rebound big. If the drop is gradual and slow, I'll be more concerned. This kind of drop happening with pmbtech is obviously a manipulated press down to flush out weak hands and collect cheap tickets before they push it up again. Experienced this with Sam. Dropped from 15 to 11.50 before shooting to 21.
Don't simply said to 15.or 16... All is downtrend..... Operator is playing around.... Go other counter better on here.... Sam is best support strong....
PMB net profit margin is about 10% based on past few quarter results. RM 2.2b sales x 10% = RM 220m. Assuming PE 20 (Conserviative PE as Pmetal used to have PE of betwen 30-50 in the past) will give mkt cap of about RM 4.5 billion. Current mkt cap is about RM 2.4b.
PE 20 -30 should be very fair to PMB as it is in a special industry and barrier to entry is very high.
Future growth prospect
This year PMB completed phase 2 expansion making its output to 72k MT. The land area for the factory can cater for another 2 phases of expansion in near future. The mgt has indicated that negotations are underway with Sarawak Energy on power supply deal for phase 3-4 expansion. We shall hear some good news from them in near future.
All this calculation like last time glove.. How is today glove facing cause people stuck....... Dont compare to genetec....... Buy or sell based on your study......
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Powerplay666
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Posted by Powerplay666 > 2021-09-30 22:20 | Report Abuse
U have to believe in the counter if it has excellent fundamentals. I saw the same trend happening with Canone. Went up to 4.15 few weeks ago and then retraced all the way back to 3.60..Remained sideways for several days before it exploded today to 4.62. Operator will always do this trick to create less resistance for the next wave.