Syndicates sell down until RM6.10 already. Don't know what is their target price of selling. Can easily close below RM6.00 today. Very very weak support down the line.
Tuesday closed at RM6.06 (down 4 sen). Hopefully Wednesday and Thursday, it will go down below RM6.00. 10% correction from the peak of RM6.33 will be RM5.70. That should be a good entry point for a strong rebound.
Today is fifth day drop after bonus issues is proposed. Still no buyers meaning the price is not attractive yet. Have to see to what level it drops to before the trend reverse.
Bursa Malaysia recording an all-time trading volume of 7.669 billion shares on Wednesday but why PMETAL volume still so low? Hope that its volume will increase together with its price as Friday is the last trading day before it ex-dividend on next Monday.
LME aluminium to rise more to $2,129 SINGAPORE: LME aluminium may rise more to $2,129 per tonne, as indicated by a Fibonacci projection analysis. The analysis reveals that the metal has briefly pieced above a resistance at $2,074, the 138.2 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of $1,754.75. The next resistance will be at $2,129, the 161.8 percent projection level. The wave C consists of five small waves. The trendline passing the peaks of the first and the third waves points to a level similar to the target of $2,129. Strategically, this target will be confirmed when aluminium goes above its Aug. 20 high of $2,083.75. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
8wpwtmt8, i see, any adjustment to conversion price for warrant? I mentioned warrant b'cos there is no premium to its price as yet. Sorry, i am not aware of any bonus issue official announcement.
I hope the management of PMETAL will summit the application of the bonus issues to Bursa Malaysia by end of next week. Please don't take too long time. After approval by Bursa, there will be another rally.
LME aluminium to rise more to $2,129 SINGAPORE: LME aluminium may rise more to $2,129 per tonne, as indicated by a Fibonacci projection analysis. The analysis reveals that the metal has briefly pieced above a resistance at $2,074, the 138.2 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of $1,754.75. The next resistance will be at $2,129, the 161.8 percent projection level. The wave C consists of five small waves. The trendline passing the peaks of the first and the third waves points to a level similar to the target of $2,129. Strategically, this target will be confirmed when aluminium goes above its Aug. 20 high of $2,083.75.
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....
Joel
4,580 posts
Posted by Joel > 2014-08-19 13:57 | Report Abuse
ur English knowledge very good.
ur SPM must get A1.
I get 4C only.