A hidden gem that yet to be discovered by market- SALCON BHD
SALCON share price spike up after it announced its QR on 19/08/2021. Although it report a strong QR, market seems doesn't weight in all factors that make it profitable even in current business situation.
Salcon disclosed that it acquired stake in Glove Manufacturing company, and part of the profit derived from it.
As long as glove demand is still intact, we expect SALCON to do better in coming QR.
Apart from fundamental and business perspective, SALCON is quite bullish on technical ground.
Big boy withdraw most of the seller after the day it announced latest QR, pushing up the price to RM0.225
Price keeping hanging around RM0.225 for a week and spike out to RM0.24 on 03/09/2021.
Minor washing properly done for a week, and we notice there are heavy collection on RM0.225 on Friday.
Once market sentiment getting better and natural buyer coming in, we expect a small rally next week.
Entry:RM0.235
TP:RM0.255
Salcon disclosed that it acquired stake in Glove Manufacturing company, and part of the profit derived from it.
As long as glove demand is still intact, we expect SALCON to do better in coming QR.
Apart from fundamental and business perspective, SALCON is quite bullish on technical ground.
Big boy withdraw most of the seller after the day it announced latest QR, pushing up the price to RM0.225
Price keeping hanging around RM0.225 for a week and spike out to RM0.24 on 03/09/2021.
Minor washing properly done for a week, and we notice there are heavy collection on RM0.225 on Friday.
Once market sentiment getting better and natural buyer coming in, we expect a small rally next week.
Entry:RM0.235
TP:RM0.255
Comment:
Market theme not turn to penny yet. HAve to be patient.