KLSE (MYR): IFCAMSC (0023)
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Last Price
0.665
Today's Change
+0.07 (11.76%)
Day's Change
0.615 - 0.67
Trading Volume
18,021,500
2024-11-20
2024-11-20
2024-11-19
2024-11-18
John1234
2,020 posts
Posted by John1234 > 2016-12-16 10:58 | Report Abuse
Today, let's take a look at Hibiscus since there is so much interest in this counter. When Hibiscus was below 30 sen, before the last quarterly result was announced and before OPEC deal to cut output, stockists had already positioned their trades to collect low. Now, when news is out, they start to push prices higher to clear their cheap trades and also to test the mkt on speculative demand. If demand is high and news is supportive, they would gladly oblige to push higher. But punters have unknowingly become their tools to chase high. They wanted to buy high and hopefully to sell higher.
For me, my style is different. I like to "chase" low. I have made 3 rounds of profit from Hibiscus and exited from it. Just stay on the sideline to watch at the moment.
To each his own. Adopt a style that best suits your risk profile. Hibiscus is just a case study for illustration purpose. The price can go higher or lower, depending on stockists' game plans and mkt sentiments. Not a buy or sell call always.