Presbhd closed at RM2.01 On 3rd September 2014.The last bar higher volume
closing mid may mean supply coming in. Its price has formed a bearish flag as
shown in the chart. Once the lower trendline of the flag at around 1.95 sth is broken,
then the trend may change. The prices and RSI are showing
Bullish Convergence (Both price and RSI is showing higher high and higher low). This means that the uptrend momentum is strong, plus it is
oversold, hence there is a high chance that the trend will continue. Plus,EPF
has just acquired its shares on 27.8.2014.Surprisingly, the amount of shares
EPF its acquired this time is more than what had been disposed on 25/8/14 as reported
by Bursa.For time being, EPF has a direct interest of 7.27% of its shares.Why
EPF acquires more shares this time? Something big is going to happen? Plus, the
ex date of the coming interim dividend will fall on 10/9/2014.With all these
factors considered, will its share price surge again? Personally, based on the technical and long term fundamental outlook,i think most likely it will go up.I might be wrong.The next few days
we will know.
The purpose of this blog is
to share knowledge, news and personal opinion on investment, economy, stock
market etc. There is no guarantee that all the information in this blog is
accurate and up-to-date. Invest at your own risk! TQ.
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