It's true that the stock at 0.48 is already fully valued. Nevertheless, I took the risk to buy at 0.515 when the price was going up before it fell back to 0.475/0.48 level.

RHB-OSK says hold for a reason. As far as I understand from those in the know, Hovid is expected to make an announcement soon that they have secured at least two government contracts. This probably explains why the price has suddenly rebounded from 0.475/0.48.

Chartwise, price is likely to fall further. One consolation is its relatively small volume. But like before, the price may fall gradually until it finds its first significant support at 0.48/0.47 before staging a rebound. I may be wrong, of course. Just learning.

It's a healthy correction. Both the bulls and the bears are unsure of themselves. Short term support at 0.965. I may be wrong, of course. Just learning.

Chartwise, expect more aggressive selling. The bears won yesterday and may continue to dominate. However, the price may find immediate support at 0.28. If this is broken, then the next support is 0.255. If the bears continue to dominate, and the price fall below 0.22, the bulls may appear at 0.185. Caveat: I can be wrong. Just learning.

The SSA is between Dayang and Affin Hwang Asset Management and it is concluded on a willing-buyer, willing seller premise. It is this block of slightly more than 5% shares which has given Dayang more than the 30% stake that triggers the MGO to other shareholders of Perdana. What Dayang is interested is the remaining shares of the significant shareholders of Dayang. And it is this price of RM1.55 which Dayang has agreed to pay Affin (which is has accepted) that Dayang is offering to buy out the remaining shareholders. Unfortunately, this price may not be attractive to some of the shareholders such as Tabung Haji, Poh Eng Kho, EPF, and others in Perdana who have substantial shareholding. Dayang does not need to own the company 100%. What it wants is a controlling stake. It is not taking Perdana private. Perdana will maintain its listing on Bursa. So if Perdana price keeps going up, then the remaining shareholders will be discourage to sell at RM1.55. Also the SSA is conditional and Affin may ask for a higher price or withdraw from the deal. Let's see what will happen today which may provide us with some signs of how this deal will work out. Happy trading!

Tomorrow may see a fierce battle between the bulls and the bears. Dayang may try to drive Perdana price down while Perdana may try to drive it up. At this moment, it seems the biggest loser is Tabung Haji which has a 8.43% block of shares reportedly bought at RM1.80 each. So what will it do? Let's sit back and watch the battle unfold.

Just rotational play. All the technical indicators don't look good.

Warrant conversion today. Issue price 0.18. Par 0.10.

another substantial shareholder is Henry Poh Eng Kho. He has a 5.2% stake in the company. No info on his purchase cost.

Correction: TH has 8.43% or 62.2m shares in Perdana said to be bought at about RM1.80.

It should be above RM1.80 because the Tabung Haji's block of slightly more than 5% was bought at RM1.80. Surely TH wouldn't want to sell at a loss to allow Dayang to take Perdana private. But. well, you never know how the final price will work out. I bought at RM1.48 on Monday before prices started to fall, based on my TA. Cheers.

Sorry. My mistake. I just realised that I took the figure from another stock.

@AidenWFW: Fundamentally speaking, yes. Oldtown is cash rich and it has consistently chalked up good revenue and profit. It is trading below its book value of RM2.40. But there may be a slight drop in profit by about 14% for FY16. Chartwise, prices have been falling since April 30, and it looks like it is bottoming. But it may be too early to tell. You may want to wait a little longer for a buy signal.

There is a white marubozu candle which has just squeezed out of the upper Bollinger band. Company is reporting good earnings which will contribute to its parent Dayang, another stock to keep an eye on. Dayang is expected to report a set of good figures on March 21.All other indicators are looking good for Perdana. There should be many more good buying days. PS: just learning to read and analyse charts.

Hi, I am new to TA. But looking at SKPRES chart, it looks like an inverted hammer has formed. Does this signal a trend reversal? Or will this be false? Thanks.

Hi, I am new to TA. Looking at the Kenanga chart, it looks like a spinning top has formed. Can anyone confirm this and if so, does it mean a downtrend is imminent or will it be a false signal.