Yongtai in short term will not be going anywhere. If market no bug drop perhaps still can hold at this level. Otherwise, it will drop further. Currently there is not much sentiment to push up the price further.
boss is boss. his average price is well lower than us. he bought at 1.46 doesnt mean his cost is there. he can press the price to squeeze the retailers out.
i am not sleeping beside the boss. we as retailers need to always take extra precaution. market is cruel. we dont buy the stocks because of the characters of the boss. we based on facts and figures.
yongtai today breakdown again and it is a dangerous sign. short term wise yongtai is bearish. dont buy in this counter at the moment as there is no sign of reversal. as it has been pulled from 45c to current level, it could have a major correction alongside with the weak market sentiment. it wont surprise me if this will be corrected to RM1.
if your entry price is low and target for long term investment then can hold but you can expect capital gain instead of any dividend.i believe yongtai will not give any dividend as they need cash to develop their projects. if price is high, it is good to set a profit taking point to avoid profit being burnt. i believe the price level now has reflected the future projection of the company. unless there is any other new projects or good news, otherwise it is not easy to climb another new high. not to forget operators and bosses collected at 0.2-0.3 level. at this current price, they have a lot of profit margin to sell down.
have to see the subsequent development whether it can stand above this level and move up. be cautious of the forming on head and shoulder. 1st shoulder on 24/feb.
in few days will decide the trend. now it looks like really forming the head and shoulder. better be conservative on this counter. dont buy in at this stage. very high chance to be trapped. any correction back to rm1 is possible as this counter was raised from 20c. not to forget the Yongtai PE is above 100. the price is too high now.
it is almost can confirm that yongtai is going down further. next week shall break 1.40. see the trend will go back to 1.10 in long run. stay out yongtai.
All these projects already priced in the share price. it hardly can stimulate the share price to go high. Anything about the impression city has already factored in.
if write a few words here can press the price down, then bankers and operators can eat shit already. hahahaha.....
i shared based on the facts that i see. 5 july suppose is a good sign. big white candle with recent high volume. however, it didnt last for long. 18 july gap up again with volume, also should look good but it didnt break previous high and even sell down until last friday break the previous low. this shows the weakness in this counter.
i shared where because i am still holding some which i bought in last aug. and i dont encourage those intend to get into this counter to buy now as the trend is weak. if today close red then in these few days time it is very high chance to see it break 1.35.
i believe it will retest 1.35. it is not far from it anyway. but not so tempting to buy at 1.35 as the trend is very weak. better to get in when there is a sign of reversal.
currently we can't expect anything from this counter, regardless you are trading or investing. trending is weak. upside room is very limited. even for long term holder, there is no dividend given. no point to buy now and hold while there is no signal in trend reversal for any capital gain and no dividend. only for those bought low might still able to hold. i did lock some profit when the price can't break 1.48 2 weeks ago.
Yongtai ended the week with closing at 1.35, It is another disappointing week to Yongtai share price which marks the lowest closing ever since break out in Feb. The head and shoulder is almost there. Just one step away. With this price movement, I have the strong feeling Yongtai will breakdown below 1.35 and longer term downtrend movement will be established by then. Downtrend target can project to around 1.10. I will lock all my remaining profit in next week.
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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....
YongTaiIR
13 posts
Posted by YongTaiIR > 2017-06-04 10:48 | Report Abuse
http://www.enanyang.my/news/20170604/巫光伦澄清谣言br-胜威非永大股东/