MTRONIC 0043- FRY IT LIMIT UP ON FRYDAY 

On 12 November the share price of MTRONIC gapped up and opened RM0.09 then surged 52.9% (+0.045) based on prev close of RM0.085.

The Gap Up tells us that there is buying interest in the morning. The stock price then traded on an intraday uptrend.

MTRONIC broke out from weekly chart Resistance RM0.125, and close above it, indicating bullishness.

 

After market closed, MTRONIC announced that they have appointed a NEW independent and non executive Deputy Chairman, MR TAN CHOON HWA.
 

Lets see what happens after MR TAN CHOON HWA joined a few listed company.

1. INIX TECHNOLOGY HOLDINGS BERHAD (0094)
 

https://www.thesundaily.my/business/inix-technology-eyes-turnaround-with-macau-tycoon-at-helm-EL3386512

Stock price surged from RM0.22 to RM0.89 (461.3%)
 

2. IKHMAS JAYA GROUP BERHAD

The stock price surged after MR TAN CHOON HWA was appointed and increased his shareholdings.

3. NI SHIN RESOURCES BERHAD (7215)

Stock price surged as well as depicted below.

So is MTRONIC still worth punting ?

Well, market rumours are that MTRONIC might invest and venture into VACCINE production with a Neighbour country. 

MTRONIC CURRENT PRICE: RM0.130
Support: RM0.110 


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.