The price of Dayang shot up 10 sen to close at Rm 1.17 and at the close 1.73 million queuing to buy at Rm 1.17. Moreover, the price chart is up trending. Just based on these facts, it is most likely the price will continue to go higher and higher.
Stock prices change every day by market forces. By this we mean that share prices change because of supply and demand. Conversely, if more people wanted to sell a stock than buy it, there would be greater supply than demand, and the price would fall.
Traders usually concentrate on charts made up of daily and intraday data to forecast short-term price movements. Others might use a combination of long-term and short-term charts. Long-term charts are good for analyzing the large picture to get a broad perspective of the historical price action.
As you know, the price plunged when the company reported a small loss in its 1st quarter. It dropped to 87 sen. Since then it has been recovering gradually. Fortunately, today the price shot up 10 sen to close at Rm 1.17 and at the close 1.73 million queuing to buy at Rm 1.17. It is most likely the price will continue to go higher and higher.
I advise readers not to sell too early until you see the results for the next 2 quarters which should be very good. This is my honest opinion.
Remember whether you buy or sell you cannot make any difference because the daily volume is tens of million shares.
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