Bursa Malaysia Stock Watch

P&O...Let's Talk

kltrader
Publish date: Mon, 16 Aug 2010, 02:39 PM
kltrader
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The talk now begins for P&O and Prudential over the acquisition deal with nod received from BNM.

http://biz.thestar.com.my/news/story.asp?file=/2010/8/14/business/6855727&sec=business

While this for sure will create excitement for P&O, the technical signal on Friday was less than encouraging as the breakout last Thursday was met with immediate resistance. The close at 1.20 was a bit of a consolation as it just rested exactly the highest close recorded early this month.

If 1.20 support holds, P&O is likely to continue its breakout upside. On the reverse, the stock will need a bit more time to consolidate the strong gain registered since mid-July.

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