Clear break of technical support at $1.92 despite recent buyings by boss.
Sellers have managed to overwhelm buyers.
With downside price momentum and uncertain with its business model, more long term holders are expected to bail out in the coming weeks.
I think $1.50 is coming.
Reply to @Sweeswee : I.ll wait for that day,no need wait for the clause
Hey yes. I agree with you.
But not too sure on the clause for unsold goods.
This business model is quite common, if you are active on social media space (in both East Asia or South east asia).
Reply to @Investforfund : yes.. Tht depends on the customer demand. But I think in their website sm other analyst / presentation say the goods arent returnable. The thing CLSA got right is tht BWL has historically been successful then down again, smtimes peak in their growth n stabilize (in taiwan they're stabilizing their growth if i say) bfr expand to other markets. Maybe with China is also the same - we dont know when they peak though. But china market is very huge compared to Taiwan.
I'm not personally convinced with their report. First take a look at the revenue quoted : it's 1.3 billion RMB. Remember that BWL revenue is coming from Many countries, not just China. The revenue coming from China is merely around 650 million RMB. So, this makes BWL Wechat (their promotion technique) rank more comparable with respect to their peers of similar revenue. Then, we should discount Tiens Wechat/Baidu rank as well since they got Scandal that makes the ranks go up lol, but who wants to buy the product le..
Reply to @stressful : cos their banking system do by them