Yesterday's finish was good enough. Today it doesn't have to go up although that would be nice for short-term speculators. Just defend 2.90 so that traders will be reasonably confident it holds. Must build a base around this level first. Only then can the real push to retrace the decline start.
This is good. After building a base at 2.90 over the past weeks, there's now a boost. Let's see how it handles the 3.00 resistance. It may have made less profits over the past couple of quarters but I feel the slide is overdone. Those who had given up had already left. So the ones remaining have stronger holding power. But Gtronic will need the contra players to be interested if it's to retrace its step. I'd say 3.50 is a reasonable TP all things considered. But one step at a time.
Rather disappointing day. But have to view all angles. Today isn't a good day for most other counters either. Especially those that have hogged the limelight of late. Like FGV, AirAsia, DRBHICOM etc. Retail investors especially have gotten jittery and are selling. This mood has discouraged many from buying other counters too. Including Gtronic.
But one positive note: 2.90 appears to be the support for now. It may not be able to challenge 3.00 yet. But not slipping too far away is the next best situation. If Gtronic were to retrace its slide, it won't be a straight line upwards.
Just watch the support for now. It's back to strengthening the base first.
Hoping that it will close the day at 3.00 or above. The psychological factor is also important, not just the business. This counter needs to delete the image in investors' minds of "a RM2-plus counter".
According to my analysis at this stock 7022, the stock price will increase to RM5++. The first reason is Iphone 7 will launch in early September, this company half of the profit is depend on sales of iphone, see back last year the share price hit RM6.90 higher due to iphone sale are good. Second reason is in fundamental analysis we can see that the EPS, PE, NTA, ROE and so on are in good condition and increasing. Next is technical analysis show that the price are hitting support line. I read,I research, passionate, patience in my field and sharing to public. I am value investor.
Another important thing is the company dividend will be issue in 03/11/16 and need own the share before 20/10/16 mean that the demand of the stock will increase in this few week. The dividend is consider very high.
Closed above 3.00, at the highest point and higher volume than 4-week average. This is encouraging. The previous quarters may not be very good but they weren't actually horrible. It's just that investors' expectations were too high, and there had been many contra players on board too. Investors are starting to remember again that GTRONIC is a dividend-paying counter, and a regular payer too. At the present price, the dividend yield is very attractive.
I hope @Analyst will be shown to be right. As with those who have faith in this company.
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....
Gusen
1,871 posts
Posted by Gusen > 2016-08-08 14:59 | Report Abuse
see...got news right?