Malaysia’s listed Kian Joo Can Factory (KJCB) saw its share price volatility recently dropped to a record low. What is happening here?
With the declining volatility in share price, it is also clearly evident that the share price of KJCB has been like in a “frozen state” (hovering around the price level of RM3.00 for considerable number of months). There was a huge volume spike in December 2016 which led to an increase in share price of KJCB from low of RM2.75 to RM3.00. Ironically, there were two huge volume spikes in April and May but this volume spikes did not cause the same effect to that of last December. The price still remains around RM3.00 till date.
What has changed since December – we have seen steady accumulation of shares in KJCB by EPF as shown below:
Is this an accumulation phase that will lead to an eventual breakout? Is there a “storm” coming? Only time will tell….
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