POS - Drop Big Time!
On 13 Nov 2018 I wrote that POS was showing a bullish technical pattern, where it made a new low but its MACD made a higher low. This pattern usually indicates of a potential rally. At that time POS was trading at 3.05. It did rally the next few days reaching a peak at 3.32 on 19 Nov 2018.
On 22 Nov 2018, however, POS share price dropped big time after an announcement was made that it posted a quarterly net loss of RM16.6 million, its first quarterly loss in nearly 10 years. It was reported that POS financial performance has suffered from the mass migration of digital statements and bills, which resulted in substantial drop in mail volume.
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
On 22 Nov 2018, however, POS share price dropped big time after an announcement was made that it posted a quarterly net loss of RM16.6 million, its first quarterly loss in nearly 10 years. It was reported that POS financial performance has suffered from the mass migration of digital statements and bills, which resulted in substantial drop in mail volume.
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
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