Global Oriental Berhad (GOB), through its subsidiaries, operates in four business segments: property development, which is engaged in the development of residential and commercial properties, and sale of development land; construction, which is engaged in the construction of property development projects and other similar construction activities; property letting, which is engaged in the rental of properties, and investment holding. In tandem with the broad market correction mode, GOB’s share price retraced from RM1.22 on 21 April 2014 to a recent low of RM0.935. During this consolidation phase, share price has headed on into the oversold territory. On hourly chart, the measuring objective of the Head & Shoulder pattern has been met. Thus, a potential reversal is expected. If the share price is able to stay well above the 10-d SMA (RM0.98), further upsides are targeted at RM1.03 (Mid-Bollinger band & 38.2% FR) and RM1.11 (23.6% FR), with a long-term objective of RM1.17 (Upper-Bollinger band). Key supports are situated at RM0.96 (S1 Pivot Points) and RM0.94 (S2 Pivot Points). Cut loss at RM0.92 (61.8% FR).
Hi icon8888, have asked this a few times. But just wanna reconfirm. The rights issue is at RM0.50. Is there any chances that GOB may revise the price of the rights issue to a higher amount than RM0.50? Or it is cast in stone that the rights will be RM0,50 and will not be changed....
it said "for illustration purpose, it is assumed that the rights price is 50 sen."
The company also said the rights to be determined later.
if you ask me, there is a chance (high chance) that the right might be higher than 50 sen if share price is strong over next few months
if that is the case, you need to cough put more money. But i dont think you need to worry about the attractiveness of the rights. The company will make sure that it is priced attractively, because the major shareholders will be affected as well. That is the beauty of rights. everybody affected equally
@ Tiff; The rights issue will cause the overall price to drop. The extent of the drop depends very much on how low the "price" of the rights issue. Assuming if you compare the position of two long term investors who fully subscribe to the rights issue, one who is an early bird and another who purchased at the recent high of RM1.0x, the effect of the rights issue may close the spread between both of the investor's average price.
James, please ignore abuses thrown at you by our forum members. Please continue to participate in discussions. The more people scold us, the more we should demonstrate that we won't be intimidated. I have gone through things like this before.
i actually know who this fella is. He used to go by the name OneMillion. They when he got found out he changed nick to Rich_Trader. When I exposed him, he changed his nick to all the james70 permutations. His latest nick is pro_trader.
james70 is the owner of his actions. When he sows hatred and spreads malicious lies, it will boomerang and hit him when he least expects it. sigh........!!! SMILE : )
Pantech has a very bright future with Pengerang going full steam ahead. I have yet to take a position but will soon. Over the weekend, there was a nice writeup in the Star and today RHB has issued a glowing report on Pantech.
Kancs can you check when they released their previous annual report ? In order to excel in stock market , you need to learn to be resourceful when come to digging for info : )
Global Oriental (GOB MK) Technical BUY with +20.8% potential return Last price : RM1.01 Target Price : RM1.11, RM1.22 Support : RM0.960 Stop-loss: RM0.950 BUY with a target price of RM1.22 with stop loss placed below RM0.950. Following a recent steep correction from the high of RM1.22, GOB has stabilised within the 50.0% Fibonacci retracement level of RM0.970 in the last 12 days. Yesterday’s gap-up and a positive closing above the 10-day SMA line likely signal the end of the recent correction. Given the emergence of fresh buying interest as shown by the higher trading volume recorded yesterday (17.2m shares vs 20-day average of 11.7m) and uptick in RSI, we opine there was a visible presence of a positive momentum to push the share price higher. With the +DI flashing a significant improvement, we expect a new up-leg to be established, which is likely to drive the share price back on the uptrend. We peg our medium-term target at the previous high of RM1.22.
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Posted by air01557 > 2014-05-12 10:42 | Report Abuse
yesssss the rebound is on !