Red Sea Digi

Red Sea Digi

As the composite index continue to fell engendered by good old Wall Street fears and the Eurozone woes, most stocks excepting the situation stocks went to the byways. Digi was not spared as sellers came out in hordes from the woodwork to parlay their wares bringing down prices a tad bit down.

At 10.00 am, Digi was trading about two to three sen down at the RM3.63-RM3.64 band. There is an even number of deals done both ways up and down.

I do not see any upside today and the price of Digi should languish at the level.

At noon break, Digi shares broke the psychological RM3.60 level to slump to RM3.58 before ending at RM3.59. There was good buying support at RM3.59.

Before the bell went off,bargain hunters came in droves to bring the price of Digi to its lowest of the day; ending at RM3.54 for a 12 sen loss.

Ended at its lowest at RM3.54

Digi shares traded lower due to indigestion,the Friday mood,Monday being a public holiday as well as the uncertain global equity scenario.

I could sense accumulation as there were two tranches of 5 million shares done.