the big shareholders are probably rotating the stock between each other or between themselves, pushing it higher like they did last year when they pushed it all the way to 8+.
investor gave the tip when it was at 2.6 i think.
looked into it at the time, but there was literally no volume on the stock, maybe 1 or 2 transactions daily, so i backed off.
the authorities should look into these crazy movements in stocks like bank al sudan, methaq and arkan, because it will only scare off people willing to invest in our markets or in these companies specifically, plus give the overall market a shady image.
that said, wish i got some methaq back at 2.6. lol.
Yes, we've seen similar behavior in other stocks from time to time. Methaq (METHAQ) said last week they knew of no reason why the increase in price, which could mean they really don't know, or there's a pending announcement but they don't know if they should tell us yet, or something else.
Arkan (ARKAN) saw similar behavior recently, turned out to be some investors trying to manipulate the stock price (they were caught by ADX or ESCA or something and share price plummeted after manipulation news).
As Methaq at anything over 1 dirham looks grossly overpriced relative to just about any other stock at current levels, I'd stay away. _________________ UAE IPO list | posting guidelines
Methaq is one of the stock on my watchlist for its volatility.
It's one the rare stocks producing limit ups and limit down on regular basis for relatively no reason.
I made a few trades on this stock in Ocotber and made a net loss (negligible). The stock has not traded above my last sell price ( 4.98 ) but had done a good rebound from 3.49 to 4.82.
Its last trade is at limit down (3.47). It is gathering downward momentum and could reach around 2.50 on general bearish conditions.
If you can read its support, you can make 10% easily.
Beware this stock is relatively illiquid and Faye's advise, elsewhere, is handy trading this stock. _________________ Take your own decision; and you decide your destiny
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
Disclaimer: Investing in stocks is risky, you can lose some or all of your money and/or other assets. Anything you read on this site should be regarded as the opinion of the author only and is not to be taken as advice to buy, sell, or hold stocks and/or any other investments. Seek professional advice and do your due diligence before making investment decisions. In particular, do not assume anything you read on this site is correct or accurate. You should accept that only you can be responsible for any investing decisions you make.
2008 FY
FAQ
Search
Print-friendly
Profile
Private messages
Register
Log in
...
