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Dropping prices? You should not be too surprised. From 2009 to 2022 (covering at least 2 price cycles), the company had an average ROE of negative 4%. Over the same period, the mean of the Bursa steel sector as per https://www.i4value.asia/2021/10/a-tough-12-years-for-bursa-malaysia.html#more had an average of negative 1. OK, it was a tough sector for companies to make money but if a company is doing worse than the sector, are you surprised by the price decline?
If you are a technical trader, then of course waiting for the right signal (charts, indicators, etc) is the way to go. But if you are fundamental investor, your signal is based on price vs value. You go in when price < value. I have gone into details for SSTEEL so I am not able to say anything about it. But I have done quite a lot of digging into CSC Steel and you can read about it in https://www.i4value.asia/2020/09/is-csc-steel-value-trap-part-1-of-2.html#more
