Yes. The last time this title was carried was on 06.07.2014 when its price hit new high close at RM2.16. Today, just like any stock after experienced few roller coaster rides, again its price hit another all-time high close at RM2.48. Those who have invested thus long will feel the sentiment behind this new-high events story. If you are newcomer to this story, you would probably think it is just another story of lucky stock that managed to record new high. But no. This new high is unprecedented. Many stocks have yet to recover from the mayday that happened to the stock market during last year Q4 period. Presbhd not only breaks new barrier but against all odds when technical indicator pointing at different direction.
My associate called me to ask what is my take on today new high record and asked the usual question like many will ask - why going higher and higher without any news flow? My reply is a simple one liner - look beyond the technical indicator but look within the core of the company. And subsequent question is - can buy now? My immediate response was - Not for you because you have doubt when i told you in January this year. There is no reason your doubt has cleared just because the price has shoot up. Investment decision is made based on confidence in the company and not based on price movement. But it is different story if it is about trading decision. And I don't advocate trading in stock.
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| Notice the high buying volume to suppress any selling attempt |
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