Steel counters have already run up so much and so fast this week. Now, already overbought. Mkt operators need to do a shakeout to correct this "overbought" situation. Mkt also turn cautious ahead of quarterly reporting season this month.
Look at Ann Joo, it has started to u-turn this morning, down 15 sen now. ---------------------------------------------------------------------------------- Kaizer21 what happen meh
People need to be cautious with steel counters though the best time to accumulate is always when it's cold and quiet.. Now it's like a steel plate brimmingly hot and you need to handle it with extra care not to burn your hand
Mkt operators seem afraid of Khatu. When the cat(Khatu) is here, the mice(mkt operators) stop playing? I stay away too... --------------------------------------------------------------------------------- Joyce Lee Khatu when u come out shout buy , the price drop , when you shout sell , it goes up , why har?
Masteel has always been correlated with lionind. from recent price movement and volume it is quite obvious that someone has been trying to suppress masteel price to collect, as the price has been maintaining & not dropping.
It has been in the uptrend still and as lionind has increase 50% more than masteel, next would be masteel once the fund has taken their capital off lionind
the more vigorous the selling the more obvious that the fund is desperate to collect more while it is still low. global uptrend in steel can't be ignored now after few years of stagnant growth
true, masteel chart has shown a solid uptrend, with lionind taking so much leap ahead it is safe to say that the risk is relatively low to go in now, now it is only 60cents, and lionind already at 90cents, after covid vaccine out the price will be at least return to rm1 by the end of the year. low risk, high return, a solid choice
I agree with Skywarrior. I guess the rights issue for Masteel could be the real reason why it is lagging behind. Operator does not want it to go up too high as to ramp up the right shares setting price.
Meanwhile, operator can collect cheaper tickets too. --------------------------------------------------------------------------------- skywarrior Masteel has always been correlated with lionind. from recent price movement and volume it is quite obvious that someone has been trying to suppress masteel price to collect, as the price has been maintaining & not dropping.
Yes John1234 they have to make right issues attractive to rack in more cash for the company, who wouldnt be attracted to right issue that can give u potential 40-50% gain in short term
Everlasting. Yea , actually i oso vry feel like wanna cabut n go lionind , bt think twice , if u bought nw u are throwing undeevalue share and go somewhere which is crowded and have ad rise so much in the price , risk is definitely higher , so im still waiting to average either up or down , if break 0.65 i will average oso , if goes down around 0.5 i will too
we dun know what is the subscription rate to the right issue yet, it will be alot smaller than the company proposes coz not everyone will subscribe, and whoever wants to subscribe will try to push up higher so that they can profit. who want to pay extra if it is not going to profit them? Plus the right issues hasnt been approved and issue yet, imagine masteel going below 50 or 40c in this recovery phase when masteel is going to turn profit? impossible right? thats why i feel masteel has very low downsize risk. Plus the money they collect from right issues will help the company to turn profit sooner too so its not necessarily bad
I look at the financial report from masteel , i realised their revenue & profit is quite attractive , bt borrowing is high and the inventory level oso high which cause liquidity bit problem la , hope with this right issue they can really overcome it
masteel is taking the lead this time, operator might try to shake retailer off again, hold tight! the trend is already there, once break 0.645, will challenge 0.775 next !
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....
Joyce Lee
418 posts
Posted by Joyce Lee > 2021-02-17 13:08 | Report Abuse
Highcube thanks for explanation , i think should be great FR with the price pump up