Prestariang 2nd quarter result was just released on 27 August 2014.Result seems disappointing for this quarter as Prestariang‟s net profit of RM7.04m for this 2nd quarter, which was 29.7% lower compared to last year 2nd quarter (RM10.02 m)The weaker results were mainly due to slower software training contributions caused by delays in training projects. Meanwhile, a second interim dividend of 1.44sen per ordinary share was declared for this 2nd quarter. Exdate will be 10 september 2014 and entitlement date will be 12 September 2014.
Technically,
on 28th August 2014, Prestariang closed at RM1.90 with an ultra high
volume of 99 868 transactions.I interprete this down move on ultra high volume,
accompanied by narrower spread as compared with the previous down bar, with the
price entering a low ground as SELLING CLIMAX, this is only confirmed if next
bar is an up bar.For the last phase of selling climax, the price will be seen to
close in the mid or at low of the bar with exceptional high volume,certain
degree of buying or accumulation is there.So, it may be a sign of strength
(SOS).Plus, it is oversold now (RSI<30), so downside is limited.Hence, I may
expect some technical rebound soon.
Always remember
that strength will be found at the bottom and weakness at the market top.
The purpose of this blog is
to share knowledge, news and personal opinion on investment, economy, stock
market etc. There is no guarantee that all the information in this blog is
accurate and up-to-date. Invest at your own risk! TQ.
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