Good bargains...at 37 sen...No worries...Systech is a good buy. Going to a high of 38.5 sen contra players are selling it at a discount 37 sen...Those who missed the boat this morning can hop in now...thanks to them.
Systech is moving up slow and steady. Look at IFCAMSC still going up. Where got boss go Cny? Selling and profit taking is just a normal process. As long as the uptrend is intact we will expect it to retest new highs. Currently technical indicators all point to a long term uptrend. When the selling is finish, we will resume uptrend. There is still a tomorrow. Don't forget. Today volume is healthy and price increased from 36.5 sen to 37.5 sen...so its considered very good.
The rise is gradual and slow but steady. Not like a roller coaster. This kind of pattern is safer to play. Drop 1 or 2 sen also shaking? From 20 sen to 39.5 sen nobody says anything good? When IFCAMSC was 38 sen nobody believe it will go $1, right?
@siva68 The beauty of Systech lies in its profit and low cost internet development...spreading its business to Europe and US with good business in asia pacific. Mobysys is growing fast. Sysarmy is another revenue stream coming via internet security software. The future is definitely bright for IT companies like Systech. Don't think a small company cannot grow. The internet is mushrooming with great pace. Everyone is holding a handphone. Uncles and Aunties without IT knowledge is downloading apps and playing with online games. Even babies are playing with a tablet...I was surprise at such a huge market. At 37 sen don't think Systech is expensive considering IFCAMSC is already $1.16... hahaha
Lets wait for the QR report...I am looking forward for it too.
It is late to make this comment but Bursa us being ridiculous by making UMA query on systech. There is nothing unusual abiut a counter moving from 30 sen to 39 sen in a gradual manner. It did not go up a lot suddenly in one day. Is Bursa trying to discourage counters from going up? Is Bursa happier if counters do not move upwards and go down instead? Those guys at Bursa need their heads examined.
The uma mechanism is to warn investors...not to discourage price up. Reason is last time during the 90s bull run ...loss making companies like Granite and Repco were going up like rocket due to speculations and rumors. Granite went from 50 sen to $15.00 and a lot of investors were caught when it dropped. So in order to avoid over speculation, Bursa introduced the UMA just to warn investors not to over chase a stock without any news. It requires the company to provide details whether there is any info that can cause the stock to rise so fast.
Of course companies cannot reveal their insider information that is not ready for public consumption. So the reply is always standard...not aware of this and that. Investors however choose to speculate based on past performance and the price might jump up once the real result is published to the public.
I agree the gradual movement is not a lot...from 30 to 39 sen...but Bursa is looking at the 18 sen to 39 sen rise...which is 100%.
But if a stock is good, and even with UMA. it will rise fast like IFCAMSC going from 30 sen to $1.10. So lets not be too over upset with UMA as Bursa is just doing their jobs. Nothing new to us.
Today is another day for Systech...The real test is today. Oil and gas companies quick rise yesterday based on the rise in oil price. But today it dropped again below $50. So it is like a roller coaster. Not worth to take risk buying O&G now. Fund managers prefer more stable stocks like IT and also those related to GST. I think we will see a shift from O&G to IT stocks...lets see....
38 sen resistant broken!!!!!!!! Volume up...top volume....'Buy' indicators triggered... Tomorrow above 40 sen...lets hope the news is correct... Results out today...volume is not fake...really rocket fuel today indicate insider know report is good...
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....
Raymond Wong
104 posts
Posted by Raymond Wong > 2015-02-04 16:22 | Report Abuse
dropping..