Today looks like a day of correction + profit-taking. In the next few days, it should strengthen. I suspect there will be a push beyond 20 cents in order to avert consolidation, and on fund buying because the stock is good and CHEAP!
I don't really understand the demand-supply dynamics of this business. Just based on the 'expert' analyst @ RHB, I suppose can park some spare cash in this counter now that the correction is almost done, imho. It's 16.4 cents now while the analyst TP is 45 cents. What do you all think> ?
I think very few investors understand the business of this company. If one has attended their egm one or two months ago, the ceo and cfo are both very confident that their performance in the second half of 2015 will be much better. Based on what you can see from the sellers in the past few days, they are mainly small retailers who are not willing to hold for longer term. Let's see who is right in early 2016 when results is announced.
Good call guys ito timing. Global Invacom recovered to 17.6cents --- on the road to 20+. Maybe even 30+ given that there is a scarcity value as it is the only satellite and perpherals manufacturer on SGX and operates in a sector with high barriers to entry.
