Well, from the price action today things certain don't look promising with selling persisting throughout the day on significantly high volume of 9m shares . This weakness came on a bullish backdrop with STI gaining nearly 1%. From the charts , it close below its strong support of 1.42 and could head towards its next stop at 1.30 and 1.25. If the results is significantly below expectation 1.10 is on the cards.
A spillover of the China's campaign on illegal pyramid schemes and high Capex cost from building new manufacturing plants could cause a drag to its revenue.
All posts and charts are for educational and illustration purposes only
Post a Comment
Note: Only a member of this blog may post a comment.