Chart: IJMLand's daily chart as at Dec 30, 2010_10.55am (Source: Quickcharts)
Why is this stock plunging today? Is there a negative development in relation to its recent proposal for a merger with MRCB? We will have to wait & see.
Thursday, December 30, 2010
IJMLand plunged on heavy volume.
IJMland plunged 49 sen to RM2.75 as at 11.00am this morning. At the low, it was trading at only RM2.66. We do not know the reason for the selldown but the selling is extremely heavy. From the daily chart, we can see that IJMLand has broken below its uptrend line at RM3.00-3.05. It also broke below the horizontal line support of RM2.80. The next horizontal support is at RM2.65.
Chart: IJMLand's daily chart as at Dec 30, 2010_10.55am (Source: Quickcharts)
Why is this stock plunging today? Is there a negative development in relation to its recent proposal for a merger with MRCB? We will have to wait & see.
Chart: IJMLand's daily chart as at Dec 30, 2010_10.55am (Source: Quickcharts)
Why is this stock plunging today? Is there a negative development in relation to its recent proposal for a merger with MRCB? We will have to wait & see.
Hi Alex:
ReplyDeleteAs usual up and down is the norm of the day in stock trading . Only with this gyrations that someone may win and some other guy will loose instead. At the end of the day , its level will be fairly reflected. If someone were to hold it for medium term or possibly long term , he may or may not recover what he has invested. He should calculate the tolerable risks he may encounter if market turns otherwise.
To all blogger, wishing you Happy New Year 2011.
ReplyDeleteWell wishing from
http://stockmarkettalks.blogspot.com
Hello Alex,
ReplyDeleteToday saw alot of plantations and O&G counters in active. What is your view on this and what are the attractive counters that we can enter since most of it has hit multiple highs?