Personally I think it is good to have some consolidation, as last week itself already up 21+%, let it settle down first, next spike can be very explosive as there will be minimum resistance
I think RXX investment bank may not able to do much to press down the price of mother. Unless they got a lot of mother shares or can borrow from someone. Even they do so, once good result released, they still suffer loss in mother if they borrow someone share to dump now.
They can accumulated some shares, but Petronm free flow shares not much and I doubt how much they can accumulate, once got strong buying interests, price will go up as in past 1 week. All Investment banks got many Call warrants from many counters. I doubt they can buy all their issued call warrant Mother to control the price. I guess they never think mother can go up so much as their ratio of conversion is very very high for CC and not low for CB also
The country’s leading oil distributor and refiner, Petron Corp., is preparing to invest more to nearly double its refining capacity in Malaysia to produce petrochemicals and aromatics
If qtr results come out ..the price will be look like cheaper ady... CNY period.. Christmas period.. All results show on tis qtr.. Gov increase oil prices...also
in the report indirectly indicated that Chairman of Petron Malaysia Ramon Ang is in KL at the moment, hence likely the Qtr results might be announce within this few days + the "Big Investment" announcement.
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....
Daniel Yap
56 posts
Posted by Daniel Yap > 2017-05-15 11:08 | Report Abuse
@win_win hengyuan is trading at PE4++ only now. Klscreener is not accurate.