GADANG (9261) - Gadang is showing a strong buying signal - Koon Yew Yin
The price chart is showing the formation of a cup and handle which is a strong buying signal.
Let us see if the price will continue to go higher. This is a good test for charting.
Do you believe in charts?
It reported recently an increase of its annual revenue and profit. EPS of 40 sen and the price is selling around Rm 2.50 = a P/E of about 6. The company is cash rich.
This is a real test for those who have sold earlier at a cheaper price to buy back. Do you dare to admit your mistake and buy back at a higher price?
This reminds me of VS Industry when many people sold during its correction. I told all my friends to buy back when the company continued to show increasing quarterly earnings. Eventually I accumulated more than 100 million VS shares to become the 2nd largest shareholder. Of course, I sold more than half of my holdings to realise some profit.
I am obliged to tell you that I have a lot of Gadang shares and I am not asking to buy to help me. If you buy, you are doing it at your own risk.
GADANG (9261) - Gadang is showing a strong buying signal - Koon Yew Yin
www.konnyewyin.com
