Perisai - Broke its 3 years uptrend line

Chart : Perisai daily chart as of Aug 22 2014 (source: ChartNexus)

Perisai has seen steady rise in its share price for the last 3 years from around 50 sen to peak at RM 1.70 . The rise of the stock price is back by the excellent earning of the company operation for the last 2 years. But things has changed for the last 2 quarters as it deeps into the red for the 1st quarter this year while only registered a paltry earning of RM 961,000 for Q2. This is mainly due to the company was unable to secure jobs for its two major assets that are currently sitting idle. The managing director did mentioned that the company has launched its first jack-up rig and it will start contributing RM 20 Million revenue to the company from August to the end of the year. The share price has reflected the lackluster performance of the company and seen broke its 3 years uptrend line. It is crucial for the company to be able to secure jobs for the idling assets as well as generate new revenue from the drilling business, or else it could be the end of 3 years run for the company's stock price.