Daily88, ermmmm i not sure is it JP Morgan , but you can search from bursa malaysia regarding on the short selling , i saw short sell around 7million shares
It's bounced off the Moving Average, which was 53 on Friday. Since it has started this current uptrend since November 2 it has always respected the MA.
Fibonacci first two extensions remain at 58.5 and 61.5.
KUALA LUMPUR: Econpile Holdings Bhd's unit has accepted a contract by MCC International Incorporation Ltd for the subcontract piling and substructure works for an integrated entertainment complex in Phnom Penh for about US$85.7mil (RM347.6mil).
It said in a filing with Bursa Malaysia that the project will be completed within 30 months from the date of commencement.
"The Project is expected to contribute positively to the revenue and earnings of the Company from the financial year ending 30 June 2021 onwards.
"There are no foreseeable significant risks other than operational risk associated with the Project during the contract period," it said.
Before the break, Econpile last traded 0.5 sen or 0.91% higher at 55.5 sen a share on the back of six million shares crossed.
Great win in this slow times. Previously Econpile's orderbook is at RM700mil, this new award will boost the orderbook by 50%, well over RM1bil. I think it is very common for malaysia stocks to sell on news but it is a great opportunity to enter.
Also worth noting another highly capable construction firm GDB which signed a letter of intent in October which saw the share price rise to 75c and got smashed down to 61c. That was an epic opportunity to accumulate as they are sitting at 94c atm.
I think this will be a great opportunity to accumulate ECONBHD as the capital raise that was done recently will clean out it's balance sheet, provide funding for machineries in Cambodia and put them in a good position to further capitalize on overseas projects.
First overseas award. This is a good sign for geographical expansion. If it is indeed true that there is oversaturation of condos etc in msia, then expanding overseas will only improve growth for econ. if it continues to bag overseas tender, the growth prospect is very good. actually no reason to not hold the stock.
Im holding no matter what as it definitely will go above .80cents easily... This Cambodia job is a great win! More to come as the are one of the biggest bored piling company...
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New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
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....
Miracleray
35 posts
Posted by Miracleray > 2020-12-09 15:28 | Report Abuse
Still remember this share 1 year ago, that give me a 50% return. Now is times