Gamuda doing free fall?
>> Friday, November 12, 2010
GAMUDA share price has been in a very consistent uptrend since 5 months ago. Its start from a low of RM2.64 on 27/10/10 to a high of RM4.01 on 04/10/10.
Three days ago, its share price broke below support RM3.77 to close at Rm3.69. Things doesn't stop there as price continue to decline RM0.17 to RM3.46 as of now. Short term MA(14d) is crossing under MA(50d) and its not a good sign. Its just under MA(100d) RM3.52.
So, what is going wrong with GAMUDA.... i don't know!
When share price went under MA(100d) on May 2010, we saw a rebound in 5 days, then all the way up till early of this month. Will history repeat itself....i'm not sure either.
For those holding this stock, watch closely in the next two trading day. Sell if you need to.
For those thinking of buy on dips, don't rush in until fog is gone.
2 comments:
Just wondering would you give a buy call later? haha
Hi Anonymous,
Haha... by the time i reply, price had gone back up to RM3.57.
Anyway, i think GAMUDA prise drop a few days before, cause by the order of stop-work of Electrified Double Track Project by Penang Government.
I dont think this is a big deal for the management, as solution will be come out fairly soon. Wont be too long, CM Lim will give a nod.
You dont me to tell you what the price will react then. Don't miss the boat.
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