Proton made a new all-time low

Proton lost 17 sen to close at RM1.73 today. The last 3 days Proton had been struggling to close above its all-time low of RM1.88 recorded in September 1998. What could be the cause(s) of this selldown? Could the selldown be induced by GM bankruptcy mania? (go here) Could it be bad news ahead for Proton? Bad news that might warrant the non-renewal of the employment contract of its existing CEO (go here & here).

Whatever the reason, we must be very cautious & avoid catching this falling knife.


Chart: Proton's monthly chart as at Nov 18, 2008 (source: Quickcharts)