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Top not moving stock is Golden Agri
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frosin
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18-Sep-2009 10:19
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totally agree. Looking at the trades, obviously some are accumulating while beating the market down to keep it at this range. Such activities have been observed for like a week, it is likely it will end soon. Millions of share are sold and always someone to top up selling, millions are bought and still even more queuing. The buy to sell queuing ratio is changing drastically to the buy side. It will break soon. I think merging 4 to 1 is ideal for the share price. Maybe it will then trade above its worth for a change. |
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Sporeguy
Elite |
17-Sep-2009 23:30
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May be due to too many GoldAgri shares in the market and the sub 50c can easily trade for profit by going up and down by 1 or 2 c, so some bb may happy to keep it at this range of prices. Don't forget it had split shares before plus the right shares, so too many on them in the market. may be the co may think of merging 2 shares into 1 share. | ||
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frosin
Member |
17-Sep-2009 15:35
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http://www.reuters.com/finance/commodity?symbol=MY@PLK.1 >> Palm price 2191 retained yesterday's huge gain. http://www.bloomberg.com/apps/news?pid=20602085&sid=aZ6LCf3nuv.k >>Tiruchelvam Sees Value in Golden Agri, Wilmar, Noble. Not only this guy, OCBC also see investment strength in CPO and volume related palm companies. Golden Agri net margin is 30% much better than its competitors but seems like the status is only HOLD and furthermore currently trading below value. If anyone can share some light on the internal strength of the company, then this is a great buy. Otherwise, with doubt, there is risk, then you have to have a premium for people to buy it. Short term won't expect it to exceed its book at $0.53. Currently, only Philips securities is optimistic. |
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frosin
Member |
17-Sep-2009 15:25
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Large volume equal low volatility which is something that happens to many penny stocks. Penny Stock is anything up to $5 in the US. In Singapore, it is only a few stocks that usually have such high level of volume... Genting is one example but in Genting case, there is possibility of news of IR completion that the market is long expecting. Everyone knows it is coming but it is just which day. Golden Agri have volume because they issued damn a lot of shares. Lots of people buy when they see it is cheap, then sell at a nearby price. This is why there is resistance upwards. Lets say someone find it cheap and buys 100k at $0.455 and his idea is short term then he would queue at $0.465 or even $0.46 maybe. Hence, each time the price gets stuck below if it falls. The only break through comes from positive news or speculation or large buyers. Its not one person but many people trying to profit its short range trading. This led to its low volatility. This stock is currently undervalued but within its trading range. Lets hope the technical people swing it back up soon. Best part is that fundamentally, its profit has gone up by a lot with the recent commodities rally due to global recovery in sight. Hiowever, stock price never change. Lol. |
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Peg_li
Master |
17-Sep-2009 15:03
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wrong! I think the worst component stock is coscorp! 2nd worst is NOL or GoldenAGR! the most lousy one is coscorp! not the GoldenAGR! |
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soulcries
Senior |
17-Sep-2009 15:01
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u should say yongnam as well | ||
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beidou
Member |
17-Sep-2009 10:57
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How do we explain this? Too many shares in the market or internal churning? Any guru would like to throw some lights?
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frosin
Member |
17-Sep-2009 09:48
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Sleeping with large volume. So many transactions and yet no clear direction. | ||
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