Wassup folks? Another push to cross 90cts would see much higher pxs than 95cts recently. Remember folks, this could be a reverse H&S in action and its potential is huge.
I think a decisive push across 95cts will drive prices much higher. There is reason for that to happen considering so much cash available for M&A - in fact prospecting for a global company ( Edge article a couple of weeks back; link available above ) - as well as tendering for projects with Petronas (RAPID), pretty decent profits and a promise of more than 2cts divd this year.
WL (BVI) was recently acquired for this purpose: -- to provide WillowglenMSC with a dormant company intended for the undertaking of future expansion in relation to its business. Interesting? Anyone can give an insight?
Persistent buying suggests attempts at breaching a resistance - the inverse neckline. It might even have already succeeded, but I would think that 95cts would confirm success with the uptrend further continuing earnestly. I would certainly then say crossing 1.00 is easy. The selling seems less earnest than buying as a matter of comparison this period of time.
This counter is still rally inside the box of 0.85 to 0.95. Fundamentally it is still ok. Syndicate seems accumulating this counter and purposely drag it down to scare the short term players.
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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kptMx
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Posted by kptMx > 2014-08-19 23:04 | Report Abuse
In any case the highs are higher and the lows are higher lows suggesting a continuous uptrend.