Velesto has a 30days "push" Before next Qr results----I think given Oil continuous upwards trend, 30sen Tp is a piece of Cake ( just waiting for 50sen actually )
• Share price closed unchanged at RM0.23 on Tuesday.
• VELESTO was hovering within RM0.215 to RM0.245 range with selling pressure seen for the past 1 month. Higher low support has formed at RM0.225. Coupled with indicators showing uptick momentum, share price is expected to propel higher.
• Resistance levels are identified at RM0.245 (R1) and RM0.255 (R2).
• On the flipside, support levels are pegged at RM0.225 (S1) and RM0.22 (S2).
Velesto need to diversify their busines..EV rapidly filling the gap. Otherwise they will left behind. I dont know what is PNB/Amanah strategy for Velesto future.
Serba account fraud. Velesto clean. They will diversify their business soon or later, mater of time. CEO said previously willing to sell their rigs if got good bargain...then convert to other business. Boss besar PNB mah..
After remaining range-bound for much of the second quarter, oil prices have mounted a significant rally, with analysts saying oil markets are finally waking up to the fact that fundamentals have tightened significantly. After remaining in surplus for months, many experts have predicted that demand will begin to surpass supply thus improving oil prices and margins for oil refiners. For instance, StanChart’s demand model projects a supply deficit of 2.81 million barrels per day in August; 2.43 mb/d in September and more than 2mb/d in November and December. The analysts have also projected that global inventories will fall by 310 mb by end-2023 and another 94 mb in the first quarter of 2024 thus pushing oil prices higher.
days before they announce next quarterly report (estimate 30-8), the share price will surely SHOOT UP, by that time should run already as after annoucement price will drop back ... experience from past 2 quarters !! 😱
Another few weeks results will be out. Be positive, the future of Velesto is bright now. Why foreign funds bought Velesto? Must done a lot of study before the decision. Betul??
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....
Lewis Lee
1,695 posts
Posted by Lewis Lee > 2023-07-25 10:34 | Report Abuse
false dawn ! 😭