On last Friday, the share price of JAKS shot up 12 sen with an unusually big volume of 6.4 million shares changed hands. After I have seen from i3investor that a few people thought I was responsible or I bought so many shares to push up the share price, I am obliged to write this article.
I did not buy any share and If I did, I would have to report and the company would have to make the necessary announcement because I am a substantial shareholder.
There must be a lot more people buying aggressively. As a result, the price chart is showing “a cup and handle formation” which means that the price is most likely to go up higher to make a new high.
I am obliged to tell you that my wife and I have a total of more than 150 million shares and I am not encouraging you to buy or sell. If you do, you are doing it at your own risk.