Morning guys.....
The much awaited 60c level was not breached yesterday as I had anticipated. In fact, Presbhd went down 1.5c yesterday. So, the Three White Soldiers that I had hoped for did not materialise. Instead, today, the Candlestick shows the 'Separating Line' formation based on yesterday's closing. This shows Presbhd is still on the uptrend but stop for a while to take a breather. Presbhd will resume its uptrend today and will still try to challenge the 60c level today and tomorrow as I have mentioned at the beginning of the week.
By the way.... as far as I'm concerned...Najib's guilty verdict will not have any effect whatsoever on Presbhd's share price and the market as a whole.

Based on Candlestick.....possibly break 60c today.

@richmao.....
I agree with you.

Operators are on the sidelines.....only small time retailers selling......lets wait for afternoon show.

Good morning guys......
Today should be another good day for Presbhd.
As I had expected earlier....the bullish 'Three Outside Up' pattern was formed at closing yesterday. Based on Candlestick chart and TA....the bullish trend will continue today and will challenge its year high of 59c. The much anticipated 60c level will most likely be broken for the first time today and TP of 62c will most likely be achieved.
Good luck guys....

As I mentioned yesterday...the bullish 'Three Outside Up' pattern will be formed at closing today making way for the very bullish 'Three White Soldiers' pattern formation to be developed later.

My charts are giving a signal that it will break 56c today. I think it will have another attempt to break 56c this afternoon after only achieving 55.5 this morning.

Morning guys.....
Its going to be a very exciting week this week....
Based on the Bullish Engulfing pattern formed last friday....today will open higher at 51c-51.5c and will proceed to break 56c and will subsequently race towards the crucial 60c level.

@cicakman.....
Chart looks very good, just crossing.
26/07/2020 8:59 AM

Yes bro.....true.

Outlook for tomorrow and this week.....
Based on last friday's closing...the 'Bullish Engulfing' pattern has already emerged on the Candlestick chart...indicating that Presbhd will rally on monday with volume. The bullish 'Three Outside Up' pattern will then be formed the next day signalling the uptrend has returned. This will then make way for the formation of the very bullish 'Three White Soldiers'.
Indeed this will be a very exciting week and we have a lot to look forward to. Lets just hope there there is no outside interference from DJI & Nasdaq.
TA looks very positive as well. MAs look good. MACD is giving a bullish sign. Momentum is excellent. RSI and Stochastics are not in the overbought territories. By and large everything looks good and positive for Presbhd this week.
26/07/2020 10:16 AM

@zerocool....
Super excited for coming weeks
25/07/2020 7:09 PM

Yes bro....next week should be very good.

@Bemillion.....
Yes bro....someone deleted my calculations....
Presbhd has already made the announcement about the Rights Issue (RI) and I was merely putting figures to it so that we could see clearly and get a better picture of what we would be getting. Unfortunately, it seems someone didn't like what I was doing. Maybe they have ill intention and purposely don't want ppl to know what is going on.

@mudzaffar....
robotop..im with u..i understand ur calculation
25/07/2020 12:51 PM

Thanks bro......the most important thing is....we know whats coming!

@nagachan....
Robotop, do your maths properly. 3000 shares X 70sen where got RM210k. Is only RM21k
25/07/2020 12:00 PM

It depends om what unit you use.....I could have used 300 lots (1000 units) × 700....it would have been the same thing....RM210,000.00.

If you ask me...I'm surely going to imitate Affin Hwang...I'm definitely going to subscribe for the RI. Easy money.

With just 3000 shares you are going to make RM35K from this Ri.....
Just imagine how much Affin Hwang is going to make with 60 mil shares that they have currently. No wonder they keep on accumulating. I bet they are going collect more later on.

Hahaha....Like I said....they will keep on buying next week. They already got 60mil shares ie 11.3% . Lets ask ourselves....why the hell do they keep on buying if there is nothing going on in the company?

Yes ....nice closing indeed.
Next week will be very² interesting. Most likely Affin Hwang might want to increase their holding further. Imagine if the share price goes to 80c later and they get the chance to subscribe the RI at 20c. Wow....what a discount. For fund managers like them....long term surely pays.

Surprisingly, most of those who bought the 1.1mil shares last monday are genuine investors and not contra players. Most of them are holding tight the shares. Thats good news.

It really bucks the market downtrend. Bravo....Investors and fund managers are taking the RI news positively.

Possible close at 52.5c

It simply doesn't want to go down.....
Excellent support at 50c.

@jase123....
Yes.....true.

We are able to purchase the Ri at 20c. Even the CEO will subscribe the PF at 32.5c. Meaning, we'll get better price than the CEO. Awesome!

Syssshhh

Affin Hwang bought on average at 50c last monday. They are holding almost 11% now. Surely they know something BIG is coming.

I'm confident Presbhd will close above 50c again today and ready to rumble next week. The overall market is weak today....lets see whether it can buck the market's down trend. I'm still positive all the way.

Today is T3 for the 1.1 mil volume.....lets see whether it can absorbe the forced sellers and the negative perception due to the RI news.

Presbhd is calling for RI bcoz it needs working capital in preparation for new projects that are coming in.

Why would Affin Hwang want to increase their holding if there is nothing in it?

I cannot gauge investors' sentiment regarding all the news that just came in.....but I still remain positive and view it as a very strategic move by Presbhd.

@xuxu.....
who is buying in such big volume ??

.....and Why?

Syssshhh......

No problem....profit taking only half sen down.
Closing still above 50c.

I think afternoon will once again break 50c.....and will close green .....moving towards the TP 56c. All the technicals are giving positive signals.

If we observe carefully.....only scared retailers are throwing now at 49c.....and someone is slowly collecting at that price.

I think yesterday's news that the CEO is going to subscribe 79mil new shares is not actually THE news. The news is not that sensational so as to push the share price above 50c and the volume to more than 1.1 mil. Surely there must be something else that we are still not aware of.
They know when the news is out...ppl will start selling....bcoz ppl normally stick to the maxim " Buy on rumours...Sell on news" So, when something is announced....they thought that was it....and started selling. In actual fact they are now waiting to collect more at lower price when ppl throw. The way I see it ...someone is collecting now at 49c. I believe they will push back above 50c later on bcoz the TA charts still look very positive and very bullish. The volume at the moment is also nothing compared to yesterday's.

@enchopls....
on the other side, there are more ticket which cost is 0.35 can be sold at open market....
21/07/2020 9:05 PM

No....the CEO is not allowed to liquidate his shares in the open market immediately. He has to hold and retain the shares for a few years.

Now we know the rationale why Affin-Hwang was willing to purchase Presbhd even at 48.5c earlier.

@cicakman......
Robo at how much CEO propose to Subscribe?
21/07/2020 9:02 PM

At 35c a share bro. The CEO has to fork out RM27.85 mil. out of his own pocket.

To me this is good news. If the company had called for RI to get funding for working capital....the share price would have slumped down to probably 25c.
Investors and fund managers are relieved becoz rest assured the company is not going to call for RI.
I think thats one of the reasons why they are scrambling to buy the shares now.

Investors and fund managers view it as good news......
1. Presbhd does not have to call RI for capital injection which is bad for Presbhd share price.
2. They view it as 'A Project' is coming in and Presbhd needs working capital.
3. Why does the CEO want to subscribe and waste money for 79mil new shares if the company is worthless and has no future?
4. The CEO knows something BIG is coming to the company....thats why he is willing to take this risk.
21/07/2020 8:46 PM

Everything looks good today. Bullish long white candle already formed. Today will follow through buying. TA looks good as well.
Gap up opening. Possibly....TP 51c may be achieved today.
21/07/2020 8:36 AM

☝️ My msg this morning. Closing today right on TP 51c.

@cicakman....
Robo 60.5 to be exact.
21/07/2020 1:51 PM

Hahaha....yes bro.

It looks like 60c is within reach now. Hopefully will be able to break 60c this time around. Previous all time high was 59c.

Yes....you are right bro.

cicakman.....looks like your Limit Up version 2.0 is coming this time.

Well done all you Presbhd supporters.....you really got nerves of steel.

Already in Top 20.

Looks like going to break TP 51c today.

Volume looks good. Excellent momentum. Should be no problem breaking 50c.