Steady volume for 2 days. Hopefully will continue and break 25 next week. This counter should be around 80sen at least with current financial performance.
I think it will break the resistance eventually. Based on Q1 result the current shareholders fund is RM45 mil. Plus the proceed from vessel disposal to settle off scheme creditors of RM135 mil, the shareholders fund will rise to 34 sen per share VS current 8 sen per share. No wonder the price going up as successful vessel disposal leads to settlement of outstanding creditors. When the NTA per share rise to 34 sen, it should address the factor that triggered the PN17. Im positive this counter will eventually freed from PN17
Great explanation, next week EGM will talk more on vessel disposal and new regulation plans. The price will go back to the price before TS Rashid offer.
Yeap. I suggest we read whatever reports that comes out line by line. Only then we can see whether their plan make sense or just plain loop filler. Whatever the charts telling us, eventually fundamentals will always prevail. Provided that we can be patient and don’t let our emotion controls what we are holding on to. Like these vessel disposals, in short it looks like some bullshit move why only selling meager assets can hike the price up? But if we read the underlying rationale from the released reports, it’s actually a turning point towards their terminal goal to exit the PN status. If we can hold onto the fundamentals, we can hold our position until their plan realised. Just my 2 cents
EATECH just need approved regularisation plan by SC and to immediately generate net profits or positive operating cash flow in 2 consecutive quarterly results immediately after the completion of the implementation of the regularisation plan in order to get out from PN17.
Looking into QR, no problem for that, the only matter now is approval of regularisation plan by SC.
Honestly, I love the positivity of real investors. We are not manipulators. We believe in investing in a good company and hoping the company will get us some good income in the mid to long run.. Only thing is, hope this EATech is really not a con counter..
This is jcorp’s counter, and definitely not a con company. Petronas has awarded long term contracts for petroleum product tankers to 2 of eatech’s tankers. Oil and gas and shipping sector are in bullish uptrend for the next few years. Positin yourself while it is still Below 20c, it will Probably test ath next year once pn17 uplift similarly to other oil and gas related counters
It's okey @thecrown, im not sure either but this is the sign when price want to jump higher. Maybe it will retrace not more than 7%-10%, if it rebound, it can pass through the resistance.
Thank you Madjin. Investors need a positive person like you that advises positively. I like your clean thinking. And hopefully, investors can make a profit by investing in a good company.
RSI almost touch 70, it tells the stock is almost 'overbought' now. Some stock will retrace or correct after this, but let see how smart money want to play.
Today maybe will be some retracement, expect heavy sell off. Those have taking profits, congrats. For those who are still hold and expect next price pushing, behold, there will be turbulence ahead. Make sure CL have been determined and cut like a robot.
As expected, heavy sell off is happening. Based on Fibo Retracement, the rebound may happen on 0.195-0.185. If the vol is coming back, expect more to come.
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....
Whiteevoque
301 posts
Posted by Whiteevoque > 2023-08-03 18:25 | Report Abuse
Steady volume for 2 days. Hopefully will continue and break 25 next week. This counter should be around 80sen at least with current financial performance.