IRIS drop another 21 cents and closed at 0.51. The day low is 0.495. This is even lower than previous limit down low of 0.655. I would advise player stay out from this speculative counter and other related counters such as Polytwr, Oilcorp, Sugar, IPower, KBB, Canone, Satang, etc.
IRIS punters will face another round of sell off in these few days due to heavy volume traded for the past few days and the stock price will be hard to sustain at these level. The main player is believed has been pulling off from the stock. Based on the chart analysis, IRIS minor support is at 0.4 and strong support is at 0.34. At this level, contra player are advised to cut loss and stay aside and buy back for technical rebound when IRIS hit support level as mentioned.
Contra player are advised to stay sideway for this week because market will be volatile and any major movement in IRIS will affect market sentiment significantly. If there is profit, please lock in now. Market will be quiet trading for the rest of the week
Stock for attention this week will be Magnum, Pelikan, Kossan, and govertment linked counters such as Timecom and RHB, Utama.
"Trade carefully and safe will allow us to start again. If you trade emotionally in wrong direction, you will lose your confidence for any future rebound" -- Kingson Len
Disclaimer : This is my own investment prediction, I do not responsible for any financial loss for your own decision. Please make your own investment decision after consult your remisier or financial advisors.
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