May be going down and stabilize if the sellers are coming in. If there is little sellers, the only way is up further and find either the buyers or sellers that will determine the direction of the share price.
The transaction today so far, is considered so little compared to the transaction vol of 315 millions shares yesterday. Yes, the support @RM0.095 is strong. Will the sellers start selling this afternoon? I will consider to buy some if the support is still strong by 4:30pm.
Someone will have to roll over the transacted vol of (RM0.075 - RM0.105) today and tomorrow. The average price to roll over asumming it to be RM0.09. This is just my assumption.
Does T7GLOBAL own or have any relationship with Ekuinas that owns ORKIM?
If yes then its price will move up as well for this deal?
“ EKUITI Nasional Bhd’s (Ekuinas) sale of its shipping unit Orkim Sdn Bhd is understood to have come down to a two-horse race between one party led by Sarawak-based Hubline Bhd (KL:HUBLINE) and another by privately held Powertium Marine Sdn Bhd. “
Someone was buying last thursday (315 million shares total transacted) for longer term. It means it could be pushing the share price much higher than RM0.1
Hubline CEO and managing director Dennis Ling Li Kuang was quoted in new reports as saying that the company was eyeing long-term contracts with the Sarawak government and Petronas for the transport of methanol products from an RM8 billion plant that is set to come onstream in Tanjung Kidurong, Bintulu
Hubline’s single largest shareholder and vice-chairman Datuk Richard Wee Liang Chiat emphasises that the homegrown company’s focus is to be part of Sarawak’s oil and gas growth story. Citing the role of MISC Bhd as the national shipping company, he hopes to make Hubline its equivalent in Sarawak.
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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....
KingDavid
2,619 posts
Posted by KingDavid > 4 days ago | Report Abuse
Even @RM0.04, you need minimum of RM171 million.