This is a company with 300m market cap holding 28% of another 500m market cap share. So basically quite a value buy if you take their investment holding into considerations. That's why director is accumulating
@gala is wrong info. Profit maybe 10mil only or maybe less, althought got 10+mil from investment disposal, but main group still bleeding money from operations loss in main business. Lucky they disposed if not qr will be super ugly.
Lucky boss smart do investment in solar company and ownself buy share to support price. Else this quarter totally dead. 54% YoY revenue drop, 1m operating loss.
Previously broke out from its all time high resistance of RM 1.49 and went on a pretty bullish rally towards RM 1.64.
If appears to be retesting the previous support of RM 1.40. This support level will be crucial. I believe it will rebound back sharply from this support area.
If you noticed the buy and sell queues, they are very thin...the drop that happened these few days were mainly some retailers cashing out.
The owner is extremely confident in its share price and I believe they will continue to be on a bullish uptrend until at least the bonus issue shares are finalized.
This counter will require some patience and holding power. Could take 1 month.
Support: RM 1.40 area Resistance: RM 1.45, RM 1.50, RM 1.64 and above.
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....
Orson Chin
2,083 posts
Posted by Orson Chin > 2020-06-05 01:30 | Report Abuse
Disposal solarvest shares, profit 200mil+