TELEFIELD (01143) down 21% to 9-mth low on interim profit warning
TELEFIELD (01143), listed last January, issued profit warning stating that the net profit in the first half of this year to recede from a year ago due to the global economic downturn and the adverse overseas market conditions; the Group’s initial stage of investments in new business areas; and an increase in the operating and labour costs of the Group.
The stock gaped lower against uptrend today before hitting the low $0.4, representing an cumulative decline of 66% against the listing price $1.2. It barely held above the historical low, $0.38, and was last $0.435, down 21% bucking the broad market trend, on volume soaring to 5.58 million shares. Technically, RSI (14) fell to 23. (r)
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