There is always a reason why the price Gap down + coupled with high volume!
Quote from company first quarter results:
Company says near-term performance volatility due some customers' product transitions. It expects the effect of the transitions to be mitigated by new product launches in the second half of fiscal 2019.
For the first quarter, Venture posted a net profit of S$90.9 million, up 8.6 per cent.
Although 1st quarter results is slightly better but price is still being sold I think could be due to outlooks is not so rosy !
Chart wise, with this Gap down, the chart is being disrupted and may take a while to stabilize.
Short term wise, I think it may continue to go down to revisit 16.60 after taking a pause.
NAV $8.445
PE is about 14.5x.
Not a call to buy or sell.
Pls dyodd.
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