Gadang Holdings Bhd forms bullish "Symmetrical Continuation Triangle" chart pattern Apr 21, 2016
Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Gadang Holdings Bhd (GADANG:MYX). This bullish signal indicates that the stock price may rise from the close of 2.11 to the range of 2.70 - 2.85. The pattern formed over 72 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
10% OF THE ISSUED AND PAID-UP SHARE CAPITAL Board had on 19 April 2016 (“Price Fixing Date”) fixed the issue price at RM1.85 per new ordinary share of RM1.00 each in Gadang (“Gadang Shares”) to be issued pursuant to the Proposed Private Placement (“Placement Share”). The issue price of RM1.85 per Placement Share represents a discount of approximately 7.82% to the five (5)-day volume weighted average market price of Gadang Shares up to and including 18 April 2016 (being the last market day prior to the Price Fixing Date) of RM2.0069 per Gadang Share. The payment from the placee(s) are expected to be received within five (5) market days from the Price Fixing Date.
stock valuation in general depend on PE ratio, and prospective improvement in future earning , and economical health domestically , and globally.This is a useful guide , don't you think so.
buddyinvest supplys the useful info for gadang corporate strategy, if those factors are achieved, may be could see better future valuation /price.But unfortunately are having lousy/misrule government in place,which discourage investors sentiment in general.
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....
SuperMan 99
1,178 posts
Posted by SuperMan 99 > 2016-04-21 11:53 | Report Abuse
Fiamma up from RM1.70 to RM2.40 within 3 days after announcement of split & bonus shares.