People has been trying to exit this stock for a long time. You can see though the stock is trying to head higher, people are dumping shares faster than anything else. My "feeling" is sellers should exhaust themselves soon.
This is one of the cyclical stocks which is trying to catch up with the valuation. Basing on last 4 rolling quarters, the stock is selling for 5X PE. Tagging 7X PE will translate to a target price of RM 1.96. The question is will value investor bite into this? If not, watch the momentum. Wobbling around 1.67 - 1.70 will have to take money off the table. Stop loss is 1.35.
Disclosure: No position
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