Astro-Barely There

Sad Loser

Astro is a counter that failed the litmus test of a good viable counter for an IPO.

It was shot dead on listing.

Except for a lot of  200,000 units traded in the early moments of trading, the morning session trading for Astro is definitively retail-driven and none in a hurry to collect the stocks.

There seems to be no strength in the moving up for this counter though it hesitatingly moved up by 3 sen to RM 2.90 after scaling RM 2.92 at a certain short stretch.

If it moved up too fast, sellers will come out of the wood-work. The most fearsome will be day-traders who will move the price up to sell and then push it down to buy to cancel out trading positions of the day.

So for those intending to get into Astro, expect no surprises but organic growth in price in the short term until huge volume indicators come  onto the radar.

Bad IPO Offering

We will await how the afternoon session fare.