Iris counter < RM0.91
Everyone whom monitoring the KLSE will definite come across Iris. This counter had been on the top volume almost 1 month. Value per share is around RM.010 during the beginning of the year and now closing at 9 fold. It had been recorded the highest selling price at RM0.905.
Despite the Bursa Saham Malaysia Sdn Bhd had issued a notice of caution over the investor on buying the counter even those Iris had replied the cause of the bullish might due to interest of foreign investor to they company. Iris still remain strong on the uptrend even the counter trade above 100 times PE.
Will Iris counter remain strong in the RM0.90 physiological benchmark? In my opinion, Iris will not able to sustain this benchmark and the price will not able to break the RM0.91.
Despite the Bursa Saham Malaysia Sdn Bhd had issued a notice of caution over the investor on buying the counter even those Iris had replied the cause of the bullish might due to interest of foreign investor to they company. Iris still remain strong on the uptrend even the counter trade above 100 times PE.
Will Iris counter remain strong in the RM0.90 physiological benchmark? In my opinion, Iris will not able to sustain this benchmark and the price will not able to break the RM0.91.
posted by danielkong @ 6:50 PM
4 Comments:
At 9:49 PM,
Ho Sang said…
I read from newspapper that the price goes up dramatically due to rumours that there will be a foreign investor invest to IRIS in near future. Is this the reason why you have been so confidence with IRIS? Or is there any other factor involve?
From technical point of view, I can't see anything special about this company, in terms of financial, revenue, technologies, etc. Perhaps, I need to get more resources for study.
At 11:42 AM,
danielkong said…
Most of investor is questioning why the Iris counter had a strong demand. Even there is one time where an investor try to speculate the price by bring in down to almost 30% just after a few minute after the opening bell from the price around RM0.70. Unfortunately it didn't turn up as the investor want to. The price close 2 cents UP for that day. Rumour or not? I had no idea but the counter seem to be in a very strong position as buy queue is in high volume for each day. My guess that the Iris will not able to maintain the RM0.90 benchmark is false now.
In view of the company future, i believe that there are lots more opportunity for Iris to grow under the chip card market as the not much company has the own facilities to built chip set.
At 4:12 PM,
Ho Sang said…
"Even there is one time where an investor try to speculate the price by bring in down to almost 30% just after a few minute after the opening bell from the price around RM0.70."
Daniel, I do not understand how the investor did it, can you explain? Thanks a lot.
By the way, do you know how many companies in Malaysia is doing Chip Set now?
At 5:26 PM,
danielkong said…
To be specific, on 7th April 2006 the Iris counter open at RM0.75 and the price drop the to the lowest of RM0.57 in just a few minutes after the opening bell. This can be greatly seen as there investors had intention to drop the price but due to strong demand the price close 2 cents up during the closing bell.
There a few company that doing chip set but only Iris that had it own facilities to make chip set and the rest are mainly OEM.
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