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hi hisham, it depends on market sentiment. if you noticed, it's been in a sideway after major downtrend. breaking above 0.63 means breaking away from it's sideway trend which will further retrace up to 0.77. hope this helps.
yw, muniandy. it's your own decision :) its a good entry with good margin of safety. as it approaches the key resistance of 63 cents, there will be a battle of pessimism versus optimism. enjoy the ride.
thank Cheng. I still don't believe you are not analyst as publicinvest research article mention about 63 cents similar to your comments. I see your bank's comments also earlier before analyst came out similar comments. anyway, thank for sharing your opinions. like it and hope you continue to share.
lol. emotions running high. once you have entered, there is nothing much that you can do except to follow your trading plan (entry/exit). it was a good day indeed. 4th attempt in the last 4 months since this year to breakaway from 0.6.
current euphoria of ecrl driving the buying. eventually reality will kick in. have a look at its balance sheet - receivables increasing yoy which means difficulties/delay in payments from customer, net margin has been on the decreasing trend since peak at 2016/17. government will be more prudent in spending which means if there are margins from direct negotiations in the past, you will not see that anymore. even ecrl cost is being renegotiated.
small caps and mid caps is the way for now. 3 months return % is at 12.5% and 8.7% versus -2.8% for KLCI index counters. while there is no guarantee that this will continue, there is definitely opportunity and value in these sectors.
the data was computed by FTSE Russell and Bursa Malaysia as at 29 Mar 2019. Data released back in Jan showing small caps was the best performer. 3 months later, small caps still good. hope this helps everyone with your research.
hi ang, the sharing last week to hisham was based on retracement. after a major downtrend, a technical corrections tends to happen and it tends to move to 61.8% by using fibonacci retracement. it may or may not happen. nevertheless, it's safer to follow your own rate of returns. hope it helps.