Since bull run is happening in tech stocks and the rest of KLSE are struggling, naturally the market liquidity has been flowing into tech stocks lately, propelling most of them past one technical resistance after another ......
The catalyst for the current bull run in tech stocks was probably due to the launch of iPhone 11 for which the demand is anticipated to be better than that of the previous year.
In the current lacklustre KLSE market, technology shares are a better bet. As mentioned earlier, favorable iPhone 11 orders/sales are the main factors contributing to better sentiment on these stocks. And 5G iPhone is expected to come on the market hopefully in Sep 2020. As such, I'd expect to see revenue of these tech companies (namely Globetronics, Inari, Penta, Elsoft, MMSV) picking up from now until at least late 2020. Technically, although MMSV shares seem overbought, the short-term, medium-term and very soon, longer-term moving averages are all about to be well aligned. For your info, Apple shares are trading close to its all-time record high!
We would like to see this counter share price breaking RM1.00 in short term following US-China trade talk momentum has been improved gradually, I-Phone 11 product has a good response and last week Budget encouraged production automation instead of labour-intensive production that have brought good sign for this company products. Good luck !
Today’s trading is a healthy profit-taking and correction. For your info, MMSV shares were at 0.62 a month ago. As we all know, stocks, like human beings, also need a breather before scaling higher ground. Its share price should be moving upward in tandem with its improving fundamentals and more favorable global tech sector conditions.
Yup. Agree with you. I just study the chart. The sell down volume isnt much today. Is a healthy profit taking/share price correction. Anticipating another spike up soon. Finger cross
By the end of this month, this counter uptrend momentum is likely touching RM1.00 as US share market is stable and US-China continue to put effort over the trade talk. Furthermore, Budget 2020 is the one of main drivers to this counter share price on the uptrend.
Wish all of this counter investors all the best for holding the company’s shares across RM1.00 to RM1.20 after next Q result in Nov 2019 !
Apple has struck gold with the iPhone 11, according to a new report this week. But already, industry watchers are turning their attention to what the company’s plans are for the future.
This week, Wedbush analyst Dan Ives said that demand is stronger than the he had anticipated for the new iPhone 11. He followed that up by saying that Apple plans four new iPhones next year that could all be compatible with ultra-fast 5G wireless networks.
Apple shares hit $253 in US market trading just now. Strong demand for iPhone 11 is most probably one main reason. A check with local Epicenter in IOI Mall Puchong today revealed that twice-a-day daily shipments to the store have been snapped up long before the end of the day!
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....
pang72
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Posted by pang72 > 2019-10-04 16:05 | Report Abuse
Can't believe so strong!!