The last two times volume was 20m, the share price went up by 2 sen. Today volume 20m+ price hardly move and someone keep throwing at 12.5 sen. Who is the person throwing? It's not small amount that he was throwing.
Last big volume was 0.11-0.13. Majority transaction done at 0.125. Probably contra player dump as well as today is T3 and tonight FED decision. Just my 2 cents.
Last week the transaction is about 23M especially on 15th Sept. It's hand over from one to another one, I believe. The retailer will not buy due to loss making company.
Correction. Connect is not a loss making company. Get your facts right.Connect is a turnaround company after 4 years of losses. It lost money since 2011 but turned around last year with a profit of RM 2.63 million. The loss of RM 1.35 million in the second quarter is mainly due to the increased investment in fixed asset such as machineries and infrastructures. As a result it's NAPS went up from RM 0.10 to RM 0.15.
If you look at the 4 rolling quarters it is still in the black. It made RM 429,000. As of 31/12/2015, Net current assets went up from RM 12 million in 2014 to RM 16 million. Total shareholder fund went up from RM 15 nillion in 2014 to RM 20 million in 2015. Total Current assets rose from RM 22 million in 2014 to RM 32 million in 2015. Its long term liabilities decreased from RM 325,000 in 2014 to RM 280,000 in 2015. That means its its long term liabilities is negligible. EPS - RM1.44 to + RM 1.24.
I reckon fundamentally there is no doubt this compay is a turnaround story. Technically what i can see from the chart is that the current uptrend is not over. There is still much room for it to go up. I am not surprise if the strong resistance at RM 0.135 be taken out in the next 2 days of trading. The next strong resistance shall be the RM 0.15 level.
I am confident that this level will be taken out soon by looking at the volume movement in the last 1 week.
Vinoth, it is not a typo. Please look at the other announcement of Mr.Ang. Number of share 4M, and price transacted was RM800K, it means 0.20 per share.
Another deal mentioned was "crossing deal" by Dato Ng with 27M share transacted on 15th Sept without mentioned of price. Someone big or company is buying CONNECT share.
Normally 'vide crossing deal' refers to block trasaction between two parties. Normally it is done off-market transaction meaning outside Bursa. This is to ensure minimal effect on the daily quotation price of the specified share. As in our case it seems that Dato NG is getting rid of his shares at RM 0.20. The identity of the buyer will soon be revealed.
I reckon it should be somebody or funds who know something about Connect that we do not know. If not who is paying a premium of about RM 0.08 above the current market price? This should be a positive sign for Connect. I will hold it for at least another 6 months for the price to reflect this news.
No point selling now and buying back later. Only our brokers and their broking firm will be laughing. In this case we will make sure that we will have the last laugh !!
HYG, even before fund manager accumulate I have decided to hold for mid to long term. I work in technology company and I know they will be billions of devices connected, sooner than expected. CONNECT is in well position to benefit. Their expansion and contracts win so far are just the beginning.
Name MR CHANG CHOON MING Nationality/Country of incorporation Malaysia Descriptions (Class & nominal value) Ordinary shares of RM0.10 each Name & address of registered holder Chang Choon Ming No. 19, Jalan 6/149K, Bandar Baru Sri Petaling, 57000 Kuala Lumpur, Wilayah Persekutuan Date interest acquired & no of securities acquired
Currency Malaysian Ringgit (MYR) Date interest acquired 23 Sep 2016 No of securities 8,205,000 Circumstances by reason of which Securities Holder has interest Acquisition of ordinary shares from open market Nature of interest Direct interest Price Transacted ($$)
Total no of securities after change
Direct (units) 19,005,000 Direct (%) 7.688 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0 Date of notice 29 Sep 2016
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....
AllWin
782 posts
Posted by AllWin > 2016-09-21 17:42 | Report Abuse
vinoth, you maybe correct but the volume in 8-9sen transacted was not much. More like panic sell to me after price not up.