Magni - Poor QR 18Q1 - 15 Sept 17

Magni review

On after announcement of QR Magni have drop significant. the poor QR have trigger a huge drop in price on first day expect the drop will be continue as now KLCI consider weak due to N.K missile testing.

below chart today.

as can be seen today once open have drop 13%
supported with huge volume means alots of buy and sell in transacted.
but big gap down should be institute or big shareholder only can make such.
so who is the buyer?
the near support can be see to be at around price 6.

Fundamental 
PE now is around 8.87, historical PE around 6~7.
by forecast once this deep drop will resulted in slightly rebound and then side way.
the revenue up but the profit drop. good is revenue up but why the margin is drop?
was said is due to forex loss instead of gain.

Technical
don't intend to catch a fallen knife, wait it lay on floor no people want then start to buy it.
another synonym can be seen as the price sideway and can't break thru means the uptrend movement have stop. the risk is there.
another is refer to shareholder selling all the time before QR out. shall refer as a sign to quit in future.

Magni chart as of 15 Sept 17

Magni QR

Magni recent changes

Magni PE