WIDAD GROUP BERHAD
KLSE (MYR): WIDAD (0162)
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Last Price
0.045
Today's Change
-0.005 (10.00%)
Day's Change
0.04 - 0.05
Trading Volume
4,179,600
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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....
rr88
6,532 posts
Posted by rr88 > 2021-03-26 21:47 | Report Abuse
Now my after dinner tea time.
While enjoying my cigar in the breezy drizzling cooling nite, let old man here give u greenhorns n newbies a free lesson.
You got to analyze this much deeper than just saying i see price up today n good volume, so i think it will go up next week.
1. Out of the blue it went straight up out of the opening gate 0.50 - 0.58. Then it stabilised within a range 0.545 - 0.575 whole day. This is a classic move to push up n didtribute. Otherwords, push up n con people into buying their shares that they acquired at lower level.
2. Going back past few days, someone big took a beating during heavy selling fr 0.565 down to 0.43. A day b4 in late trade this buyer already piling up on 0.565 buy orders ready to push it up the next day after it came off low of 0.55. He had been buying from 0.58 to 0.55. However the next day trade went badly against him. Instead of cutting loss, he kept on buying all the way down to 0.43. These are the shares that he has been selling all day today. He still has more to offload, so he keeps on controlling the trades going into the close today.
3. How does he do it? Its called churning. To maintain the price within 0.545 - 0.575 range, he will buy what people sell n sell to people who buy. Out of say 1,500,000 lots, 2/3 are their trades. That wud be 1,000,0000 lots. For every 10 lots that he buys, he will sell 15. So out of that 1,000,000 lots he manages to offload 400,000 lots.
4. When he kept on buying from 0.58 down to 0.43, that would put his avg at about 0.50. Today he pushed it up n controlled it within a range to sell at 0.56 avg. He therefore pocketing 6 cents a piece on huge volume.
5. You see this widad had been downtrending a slow n steady downtrend from 0.80 to 0.39. The spike in interest n the recent play was due to (a) pending award of uitm maintenance contract which the insiders knew, and (b) a spectacular speculative run up in its sister company dataprep which rendered widad to look like a laggard.
6. With the uitm job award is out of the way, the run up for anticipation of the contract award is over. "Buy on anticipation, sell on news".
7. Dataprep huge speculative bubble has burst. The recent spike from 1.28 low to 2.18 high was nothing more than just a technical rebound of a bursting bubble from 4.0 crash. This can be seen with small volume n interest the past 2 days after that rebound. Just a matter of time for another plunge, another big leg downwards below 1.00 towards ultimately 0.40. Price always adjust to fundamentals eventually.
8. When all these play out in coming weeks, widad will fall below its last valley at 0.39 n resume its downtrend towards 0.20 - 0.30. If you buy now n hold, you will lose 50% of yr money.
This is how deep you should look at it. Dont simply jump in.