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

Thursday, February 11, 2010

DJ MARKET TALK: Fajar Baru Likely Higher, Lands MYR69.9M Contract

0015 GMT [Dow Jones] Fajar Baru (7047.KU) likely higher, may test recent high of MYR1.16, says dealer with local brokerage; this, after unit Fajar Baru Builder lands MYR69.9 million contract to undertake civil works for aquaculture farm in Terengganu; says contract will take 12 months to complete. "The contract accounts for about 15% of the total orderbook and should enhance bottomline as gross margins are higher than other contracts," says dealer; estimates contract could contribute close to MYR7 million gross profit for fiscal years ending June 2010, June 2011. (ECH)

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