VIVOCOM RETAIL POWER RALLY GO GO GO!!!!
Vivocom to VinVest : Multi Billions Giant in the Making!!
VV closed today at 97.5c, no change from previous close with 14.56M volume.
In today’s announcement on Bursa, Vivocom is proposing to change its name to Vinvest Capital (https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3131239)
This signifies a new era, a new beginning for Vinvest Capital lead by its new owner: Dato Seri Chia.
Vinvest’s current trading pattern is much more calm and steady as compared to previously.
Vinvest traded in a narrower price range of 96.5c to RM1.01 today. The bulk of the trading is done between 97c to 98c with VWAP at RM0.9804.
This kind of trading paired with moderate volume indicates that there is active changing hands of shares between the new and old shareholders.
Old shareholders, most likely those who are sitting on gains and/or breakeven price are selling off their shares to newcomers.
Usually when this phenomenon occurs, the shares will drop but not for Vinvest. This shows that the new shareholders are strong buyers and are not easily shaken by the selling.
We can see this from the resistance turned support line at ~89c. Previously, 89c was the resistance but in past 1 week or so, we saw that the resistance is successfully and confidently breached and now it became the support level.
Whenever the price touches this region, stubborn bull will come out to sweep the shares.
We can attribute this to the fact that a great number of sceptics are slowly converting into believers that Vinvest is in the process of transformation.
Dato Seri Chia’s objective to transform the company into a multi-billion conglomerate in the near future, transfer the company to main board as well as pay out dividend at its earliest possible is shown via his bold and unprecedented self-imposed moratorium showed his commitment.
With self-imposed moratorium in place together with the conversion of skeptics into believers, Vinvest’s float becomes smaller with every passing day.
Soon, upon the announcement of a catalyst, Vinvest will up up up to RM3.00 and beyond.
Stay tuned for exciting times ahead !!!
VV: immediate support at 0.960. target 1.07/1.02 is still intact , MA20/60/120 on hours chart is buy signal !
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CS Tan
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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....
dumbdumb123
How can you simply say the price will go th rm3 without rhyme and reason. That is misleading. Making all you have written into rubbish.
2021-02-24 11:54