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bullish flag seen on 8, 9 feb 2012.....it has the ability to rally for such a light counter....
the tide may be changing for ETIKA in 2012. with raw material price declining thus profit increase
Comparing with the high of 50cents , low of 25cents.....etika may have hit a bottom and starting to pick up momemtum in feb 21 2012. Today it broke the resistance of 27.5cents on the second(2nd attempt) but closed at 27cents. The volume increased by 5 fold. from 0.15 to 0.75m . show sign of confidence. Looking forward to see it cross 30cents.
NEWS RELEASE
ETIKA RECORDS 35.8% RISE IN NET PROFIT TO RM5.4 MILLION IN Q1FY2012 Increase in net profit in line with top line growth of 19.6% to RM246.7 Slight improvement in gross profit margin with stabilisation of prices of
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million
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most raw materials