private placement at 0.160 should be safe to buy above this level as they are not suppose to sell for a certain period of time and company is bound to keep price above this level.
Hopefully this private placement should have some activities in the near term unlike some companies using private placement and issuance of new shares without business activities and used for operations expenses and directors' fees.
"NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING INDUSTRONICS BERHAD ("ITRONIC" OR THE "COMPANY") PRIVATE PLACEMENT"
"On behalf of the Board, TA Securities wishes to announce that the Board had on 22 September 2021 (“Price-fixing Date”) fixed the issue price for the Placement Shares at RM0.158 each (“Issue Price”) in relation to the Private Placement."
sigh...penny counters like right issue, private placement, MOU....lol...irrespective of whether there is any private placement, if operator wants it to go up, it will up then...there is no logic for this kind of counter and no one can answer you la. u see how dataprp went up to rm4 plus even with lousy result.
Tuesday candlestick already not so nice. Yesterday formed shooting star. So, retracement is within expectation. Weekly chart seems OK though. To be cautious can stay sideline to watch. Maybe until it breaks the 0.210 immediate resistance. Else the next stronger support is around 0.190.
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Alvtan38
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Posted by Alvtan38 > 2021-09-09 10:24 | Report Abuse
Today suddenly so much trading.. Anything brewing??