Last week end I post my article “Dayang will fly on Monday”. It flew from 80 sen to Rm 1.02 with 150 million shares traded.
In the last 3 days KWAP was selling aggressively which delayed Dayang from flying further up as you can see from the chart below. When shareholders see KWAP selling, they would also follow to sell and potential buyers would delay in buying hoping to buy it cheaper.
On 21 st Feb, the company announced that KWAP sold
20.04 million shares.
On 22 nd Feb, the company announced that KWAP sold
29.2 million shares and remaining 51.2 million shares or 5.31%.
On Monday 25 th Feb, the company announced that KWAP sold 20 million shares
On Tuesday 26 th Feb, the company announced that KWAP ceased to be a substantial shareholder which means that KWAP has less than 5% of the total issued shares.
On Wednesday 27 th Feb, KWAP would continue selling Dayang shares.
On 28 th Feb (today), it is most likely KWAP will complete its selling. After KWAP completed its selling, Dayang will continue to fly faster and faster.
KWAP does not know my share selection golden rule. Dayang has reported increasing profit in the last few quarters especially 10.13 sen EPS for the latest quarter.
I think this is a great buying opportunity