ICONIC WORLDWIDE BERHAD 9113- an undiscovered Gem ready for Double Kill
1. A total of 22 production lines comprising 12 glove-dipping lines and 10 mask production lines will be installed and expected to yield a minimum production capacity of 3.1 billion pieces of gloves a year and 222.7 million pieces of face masks a year inclusive of 12 million N95 grade disposable surgical masks - https://www.iconicworldwide.com.my/core-businesses/medicare
2. While ICONIC 9113- have good target to be world largest glove producer - https://www.theedgemarkets.com/article/iconic-worldwide-aims-be-leading-glove-maker
3. ICONIC 9113 masks on the other hand is selling like hot cake. They are innovative in selling their products too ! - https://www.nst.com.my/business/2020/09/621114/iconic-worldwide-launches-face-mask-vending-machines
4. Technical analysis:
ICONIC 9113 broke out the downtrend line as per peer counters, with volume. However in terms of price movement on Friday, ICONIC 9113 share price is lagging behind other industry counters such as TEKSENG, MAHSING, SCGM, NOTION.
Risk: Reward ratio is about 2.3
5. Also can see that the bosses are taking up their own shares. Why?
it because they are already fundamentally strong and then with this
pandemic and new business, maybe expecting some fruits to grow ?
as depicted above, the company for the past 4 quarters already making profit.
We strongly belive that ICONIC 9113 is the Undiscovered Gem, poised for a double kill.
ICONIC CURRENT PRICE: RM0.530
What will you do ?
DISCLAIMER: This post serves for educational purposes. Investors should carry our their own respective due delligence before any decision made. The author of this post is not liable for any decisions made by any indivudual.