Wednesday, June 29, 2016
Stock Alert : AsiaBrn
AsiaBrn (code 7722) : I think this is AsiaBrand (anak-ku and such) counter ... changed name some time ago. Someone e-mail me few days ago about her ... as she stuck at RM3plus (didn't specific to tell me much, tho) and asked opinion as it is trading below RM1.20 now.
Low liquidity now after another round of selling around RM1.20. Inconsistent volume and we could not trade her. DOWNTREND shall continue base on chart but volumes drying-off.
I am very sorry that I could not answer ... as I have no knowledge about the fundamental of the company. For whatever reason we BUY, we need to place of cut-loss point. Guess at RM1.08 now, it is "too late" to sell. Just hope that it will recover ...
Technical chart showing it is drifting lower. With not-good market sentiment, it is difficult to see funds or investment-funds moving into most of illiquid stocks.