Tek Seng is rebounding and about to test the resistance level marked at MYR0.73. Observe that the stock is crossing above the 21-day SMA line, indicating a potential change of trend. If it trades above the resistance, it may climb higher towards the next resistance level at MYR0.78, followed by MYR0.83. Meanwhile, a downward breach of the MYR0.68 support will negate this expectation.
The main problem now is the market is doubt that after the pandemic, company is still able to maintain the profit level, unless company can prove that in the coming future. Or else, even low PE, people will tend to ignore it. Cos market always is forward looking. Air asia and genting is good example, even company is in loss, market believe the profit level will back to normal soon and willing to buy high now. Vice versa in healcare stock.
Market should know when March QR come out. This pandemic just shorten the time for this company to cover back the losses due to their closure of solar factory. Recently just posted by the edge Malaysia that PVC segment is coming back strong.
This is one stk susah understand why not shooting up. Schools reopens, mco lifted, can travel interdistricts means more masks r used everyday. Just d school children already a few hundred thousands extra mask used daily.
to quote the earlier website " ... Polypropylene (PP) nonwoven fabrics market size exceeded $27 billion, globally in 2019 and is estimated to exceed above 11% CAGR between 2020 and 2026. Rapid demand for adult incontinence and hygiene products will foster market growth during the forecast period." ...
PP nonwoven is not only for face masks...
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Posted by Alan > 2021-02-15 15:35 | Report Abuse
Hop on before the qr release.