Ekovest : catch the falling knife?

source: The Star

I did expect there will be spillover effect to Ekovest, but i cant imagine that it hit limit-down (max decline 30%) to 1.01, before closing down RM1.17 today, with 230.13m shares transacted.

Im thinking what's wrong with those so called investors (or speculators)? losing their mind and selling like there is no tomorrow!!! my friends asked me whether i am selling my Ekovest-WB or not, i reply them that im going to buy on weakness, why sell? Ekovest, at this point, to me, is still a good company with strong fundamentals & bright prospect, and i dont see any direct impact of Bandar Malaysia deal to Ekovest currently

I have sold 70% of Ekovest-WB when it hit all time high in march, market was crazily chasing after Lim Kang Hoo related counters at that time ( IWC proposed merger with IWH), and i knew Ekovest should not worth that much at that time, but in deep i know Ekovest is going to be a legendary company in 5-year time, so i sold 70% to lock in my profit and the rest is free shares to me (my avg price) and i dont have to worry if it is going to plunge, and can probably buy back during a big correction.

Technical Outlook

breakdown with super high volume, and the price drop below 200sma, definitely not a good signal. Falling knife? i cant precisely predict how low it can drop further, so i will just buy batch by batch, mother share is apparently more appealing at this point since son is trading at premium of 22.65%

p.s.: trading of IWCITY has been suspended until Friday, so Monday it could negatively affect the price of counters linked to Lim Kang Hoo again

Disclaimer: it is not a buying recommendation, your money, your decision