On Thursday Notion gained 9.5 sens or 13% with volume of 143 million which is about 28% of its total number of share of 505 million.
After the market closed, Notion informed Bursa Malaysia that the company has registered with the US FDA as a face mask manufacturer. The Edge published an article in the evening on Notion with headline 'Notion Vtec's face mask production unit registered with US FDA'. Click the headline for the original article.
Apparently on 9 April 2020, Notion informed Bursa Malaysia that the company has decided to venture into the production of personal protective equipment and medical ventilator components. Production was expected to commence by end of May 2020.
On chart Notion appeared to have completed its mega wave (1)-(2) from May 2017 to March 2020.
It took another 3 and a half months from May 2020 to end of June 2020 to complete its major wave 1-2. In July, Notion continued to form its wave (i)-(ii) and sub-wave i-ii that ended on 29 July with an OBV breakout.
On 30 July, Thursday, the last trading session of the week before the Hari Raya Qurban public holiday on Friday, Notion started the first candlestick of its sub-wave iii with a price breakout with very high volume of 143 million.
If Notion can continue its run next Monday with an anticipated heavy profit taking after the announcement, the 'buy on rumours sell on news' syndrome, and if the price can stay above the upper trend line for a positive close, the sub-wave iii will have a good chance to continue its journey North.
The Four Core Business Segments of Notion
.
No comments:
Post a Comment