Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Friday, January 29, 2010

Gadang May Rise, 2Q Net Profit +84% On Year

2356 GMT [Dow Jones] Construction firm Gadang (9261.KU) may rise to 14-day moving average at MYR1.17, on stronger 2Q earnings, says dealer with local brokerage. Company reports 2Q net profit +84% on year to MYR3.5 million; cites higher construction margins as reason for better earnings; expects FY10 earnings to be better than FY09. "The improved results and positive guidance should fuel interest in the stock," says dealer; adds company will also benefit from rollout of more infrastructure projects by government. Stock ended +4.8% at MYR1.10 yesterday. (ECH)

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