Please buy Coastal if you do have some spare cash. The counter has been laggard for the past 13 months after issuance of bonus and warrants. A major investor sold his stake then but they are now returning to buy. On top of that, Coastal is poised to have more business due to more activities in O&G biz.
Do buy if you have spare cash to invest for 4 months. The price will then be RM3
Kenanga Research also indicated counters such as Coastal Contracts and Pantech Group Holdings seem to be lagging behind the current bullish trend, pegging their target prices at RM2.90 and RM1.18, respectively, with “outperform” ratings.
This is interesting, and this stock is exactly opposite to JCY. this is nearly limited down and nothing Bursa can do as the seller can say any reason like wrong key in. The reasons that I can think of are: wrong key in by funds and manipulation to drive the price down. Manipulation is possible if we look at the past three years of the chart where there were accumulation around 1.65 - 2.00 for nearly one year from June 2012.
Now using logic what SM can do: Note that the average of SM could be much lower than 2.0. What SM can do is to put all the queues at 1.65 and below, and certainly no retail investors would queue to buy at that low price, or even below 2.00 during this bearish sentiment. Well, what they can do is during pre close put a big block to sell at 1.48, and those buying higher than 1.48 would be able to buy at their queue price, that is, if a trader queued at 1.99, the trader would get the stock at 1.99 and so on.
The sell down like this is possible as I can see that coastal had been manipulated once during 2012 Mar - June 2012 AND in January 2011 - Oct 2011. So this is to me a SM favourite stock to round up the herd for slaughtering
What could be next? If it was a genuine error, the price should return to above 2.00 on Monday. If it was really a sell down, then likely it will take time for the stock to move up, perhaps gap up from 1.8 the most, and SM may accumulate again when more investors are cutting losses, and perhaps another round next year.
If you are not able to detect SM in action, better not to trade or invest this stock as you cannot follow SM to make money
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....
gankm
114 posts
Posted by gankm > 2013-04-09 10:06 | Report Abuse
being shoot down to the ground again... Is testing our patient..