Koon Yew Yin 3 April 2020
Yesterday the price shot up 20 sen from Rm 1.15 to close at Rm 1.35, with 64.8 million shares traded. As you know, the daily trading hours are from 9 am to 12.30 and from 2.30 to 5 pm, a total of 6 hours. If you divide 64.8 by 6 = 10.08 million shares traded in 1 hour. In the last couple of weeks, several tens of million shares were traded daily.
Only Investment Banks have so much money to buy so aggressively. Moreover, you cannot see any Investment Bank publish buy recommendation. They are happily buying and thousands of small of small ikan bilis are selling to cut loss.
I wish to point out that Public Invest published a buy recommendation which was carried by The Edge quote “Dayang Enterprise Holdings Bhd (Feb 5, M2.80)
Upgrade to trading buy with a target price of RM3.15: Dayang Enterprise Holdings Bhd is starting to make its presence felt internationally, clinching an umbrella contract in Thailand for the provision of modification works for Block B-17 & C-19 and Block B-17-01.” Unquote.
You can read the whole article which I posted a couple of days ago and you must not forget.
During that period, Investment Banks would encourage you to use more margin finance to buy more shares. Due to force sell, Bursa Malaysia has issued instruction to stop force selling.
You can see from the above price chart that the price has been going up higher and higher in the last few weeks. Based on the rapid rise in the last few weeks, the up-trend reversal is confirmed. Never sell an up-trending stock.
Don’t be so stupid to sell an up-trending stock and be cheated.