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Strong support has merged at below $0.40. Buyers have come in whenever price hits below that level. I believe short sellers will begin to cover their position soon.
There were a lot of activities over the past 15 minutes. Over 3000 lots were done at between 0.38 and 0.39.
It all depends on how strong the stock holders are. If more are selling to the short sellers, then the price will tumble further. I think the short sellers should move in the afternoon to cover their position. Go in now is a gamble. But it may well be right. -20% in a day is a lot.
revenue and profit down is common but stock down 20+ % is not common.. is it time to catch the dropping knife.
1H net profit tumbled 43.1% due to lower number of projects secured and completed from the petrochemical & chemical industry. The result is likely to disappoint investors. I guess they were expecting to profit to surge.
I believe because of the poor results, the counter could have attracted short sellers this morning.
Results announced yesterday. 6-month revenue as at 30 Jun down 15% and net profit down 43%.
Why this stock stock dived 20%. Anyone bad news.
This one is downtrending slightly...
Its plans for the next 10 years are extremely impressive. There were 2 articles on it some time ago in business times. I think quite unlikley to go to 50c but you never know...
Adv Hoding: 10 held for 3 bonus shares issues and fully paid closed on Sept 27, 2005. have gone from 50 cents to $0.90 cents since last announment. Since then B4 mid May06, it hit close to $0.80, then this U, me and every one know every is down trend, today hit closed at $0.62 -1cents, a drop closer to $0.50 in which i think is a good buy, happy monitering and hope U win some $$$.