KNM - In Red For 13 Trading Days
KNM share price had drop countinues 13 trading days in red. This is 1st time I see a share price drop for so long without bounds back even a single day.
Base on volume distribution chart, they are not many big transaction > 150K lots, more transaction is at <15K lots. In this few days KNM had countinues share buy back but the price is still drop.
I think this is due to UNMO member who own the share free during split share had cash out. I thought all this will happen on March 2009 but it happen now. Slowly KNM is buy back the share with lower price and base on the vol KNM share price may go lower before it bounds back.
All the free share own by UNMO member need to cash out before the share price reflect the company real situation. I just brought a bit KNM share at price RM 0.430 and wait to buy again when share price at about RM 0.30.
3 comments:
u dont want to cut lost?
eg: sell at rm0.35, and buy again at rm0.30 as u mention?
knm fundamental is solid.i love the business... but hard to believe the share price can easily drop beyond 40sen from rm1+++
what is ur view with ramunia and oicorp. .. 3 company involve in o&g this year drop beyond RM1 !!
I think KNM share is still ok to keep, oil price is about to short up like gold price.
Most of the Oil & Gas company project earning is effected by oil price and when operation slow down they project will slow but not cancel.
I'm not sure how low KNM will go but I think if I buy KNM at RM0.55 abit RM0.430 abit RM0.330 abit and RM0.230 abit will give me a good avg price when KNM u turn.
I just believe the KNM boss (top 10 richer men in malaysia )will do something to turn KNM around.
halo Durian ,
TQ for u comment. . .
I get to know from some info>. .. cause Umno will have electionn on March 2009, so KNM boss try to sell it before the date. . .
Maybe you can get it after March 2009.. but for fundamental, i think 30-40 sen is reasonable price :D
any idea?
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