For the first time we see someone converting frontkn wb into frontkn shares. Obviously it is not epf becoz epf does not buy warrants. It is some other big investor because it involves 525,000 shares.
It tries to reduce volatility or consolidation of bullish Pennant pattern and preparation for technical Breakout of upper boundary. Currently, it is in small range of Pullback.
Price of Frontkn broke out from upper boundary of Bullish Pennant Pattern with a big Marubozu candle stick and onward of trading days, Frontkn will persist break of higher price structure and creating higher high and higher low.
Price of Frontkn seem to enter into Manipulation zone from initial Pullback or Accumulation zone until movement into Distribution and then Frontkn initiate a Bullish order flow.
In Manipulation phase, Big investor or Market Maker attempt to lure or tempt majority retail investors to convert most of their warrants to shares with almost liquidity traps or inducements
Today, Frontkn plotted a Hanging Man with long wick at bottom candle stick; the price will make a reversal to upward trend tomorrow and next week. By the way, next two o r three weeks June Quarter report will be released soon.
Bearish momentum had been shrunk to last small Spinning Top candle stick which signify a Bullish reversal of price would be happened next week and the closure of Manipulation phase too; price structure would be entered into Distribution phase.
the big holders sell huge WA volume, then proceed to use capital from WA disposal to convert to mother shares. Then sell mothers share, continue to convert WA to plough the capital into the company.
Price of Frontkn hit Double Tops at price RM4.75 and started Liquidity Run downward or downtrend until bearish momentum shrunk to small spinning top candle stick and attempt to make side way; Today, price get down 6 cents and plotted a Hang Man candle stick which hopefully shrink downward momentum. FYI, currently number of shares is 1589 millions from 1580 millions and EPS 7.45 from 7.49 after conversion of warrants to shares until now. Hopefully, June quarter report will be very much better than March report.
Mr Ooi probably work for RHB Inv estment Bank; Majority of his shares sold to EPF Investment Division and perhaps currently he is minority shareholder.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Goodwill5
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Posted by Goodwill5 > 1 month ago | Report Abuse
FYI : Unisem share price-RM4.37; EPS:4.89 ; PE:89.37. Vitrox share price-RM4.60; EPS:5.95; PE:77.31. whereas Frontkn share price-RM4.48; EPS:7.49 ; PE:59.78.