I did a quick comparison with Priva chart and I guess most likely Frontkn chart pattern will be a bit similar to Priva. Priva up from 0.195 to 0.3 and take a break for about 7 days before it move from 0.3 to 0.4, you can refer to Priva chart on the 3/12-3/20 range, it bounce range between 0.265-0.3 during this 7 days, while I think Frontkn is a bit stronger which I don't think it will go lower 0.28, and I think frontkn might not take 7 days, today is the fourth day of consolidation, let's see.
Even it it drop to 0.27 which is highly unlikely, you still hold tight, it will rebound, Frontkn is only at PE15 with the EPS1.86 with the current price @ 0.285.
Proposed renewal of authority for the Company to purchase its own ordinary shares of not more than 10% of the issued and paid-up share capital of the Company。
The Board of Directors of Frontken Corporation Berhad ("Company") wishes to announce that the Company intends to seek its shareholders' approval for the proposed renewal of authority for the Company to purchase its own ordinary shares of not more than 10% of the issued and paid-up share capital of the Company at its forthcoming Annual General Meeting.
A share buy-back statement containing details of the above proposal will be despatched to the shareholders of the Company in due course.
I take this as a positive announcement. shows the co is confident in its performance n not afraid to buy their own shares despite the sharp price rise over past weeks. the more blocks of shares held by co/institution/ major shareholder, the less there will be floating in the open market. hence it would help with more price movement at a lower volume. the earnings per share would also increase if co decides to convert it to treasury shares. correct me if i`m wrong
I would if I had more bullets. fully loaded here. may sell half my holdings when price reach .35. but depends on 1st q result. based on transaction these past 2 days, strong support at .285 n then .275
As long it is below 0.30 still can buy company is doing well and also declare dividen Price is so cheap and always top ten lots of supporters so dont miss the chance Buy before it shoots up
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....
biher889
12 posts
Posted by biher889 > 2015-04-24 10:26 | Report Abuse
lai liao!