I cannot find any reason why need to sell the share? Total profit improved although eps unchanged. The share already dropped frm 2.1 to 1.64. I dun tink it will drop further
Despite the headwind the price seem to break through 1.70 resistance with high volume. Don't follow the crowd mentality , grab and hold you will be duly rewarded soon. Buy at your own risk.
After seeing results I bought in yesterday.Hope it will maintain uptrend ... results were pretty good. Even if the O&G venture did not materialize I think the Management will sure pursue others ... perhaps success will come soon.
What is your worst case? DY 6% p.a.? Best case, growth in earnings by RHB 40%-50% for FY14-15. Hopefully translate into capital gain. One of the few growth stocks with reasonable DY.
Major holders sell off earlier after finish the oil story. Price goes down. Now price low goes up. Not kuching ayam ikan bilis buying. Who else? Any ikan bilis will know.
Selling off after share dividend + TPY throwing + O&G failure, and cautious people are looking for an indicator to come back in (or throw some more), that best indicator is the 2Q14 result, I guess. Depend on the result, the price could have gone north or south.
Accumulated more units for short term position at last few days at 1.63/1.64 and sold all today at 1.77... while keeping my long term position for dividen purposes.. ..haha.. strike again...!
Today technical reports by Kenanga & RHB, bullish on Protasco. Next level, 1.96 & 2.02 (support at 1.63). Just a technical view. Sometime ok, sometime not. Mainly due to surge in price yesterday with high volume as well.
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itjustabouttheprofit
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Posted by itjustabouttheprofit > 2014-08-29 19:25 | Report Abuse
I cannot find any reason why need to sell the share? Total profit improved although eps unchanged. The share already dropped frm 2.1 to 1.64. I dun tink it will drop further