please buy maybulk on a longer term view of 1 year. the price will rise up to RM2.30. BDI is on the mend as chatering of vessel increases. Maybulk will benefit from this turnaround.
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad, Malaysian Bulk Carriers Berhad (“MBC" or the "Company") wishes to announce that its wholly-owned subsidiary, New Johnson Holdings Limited, has incorporated two (2) wholly-owned subsidiaries in Singapore on 25 April 2013.
Information on Subsidiaries
Name of Subsidiaries
Issued and Paid-Up Share Capital
Principal Activities
Madu Shipping Pte Ltd
US$50,000
Owner and operator of ships
Molek Shipping Pte Ltd
US$50,000
Owner and operator of ships
The incorporation of the above subsidiaries will not have any material effect on the earnings and net assets of MBC Group for the financial year ending 31 December 2013.
None of the Directors, major shareholders and/or persons connected with them has any interest, direct or indirect, in the said incorporation.
A little over a month ago (28 March @ RM 1.56), we highlighted MAYBULK when the share price rebounded from the RM1.48 "Neckline" after confirming the "Inverted Head & Shoulders" bullish reversal pattern. From then, the share price had extended its gains to reach our RM1.68 (+8% gain) target price within just six trading days. More recently, the share price has had one again retested the "Neckline" before confirming a "Morning Doji Star" bullish reversal candlestick pattern at yesterday's close (RM1.51). We believe that another rebound is on the cards. Hence, traders may look to buy in now with the RM1.68 target in mind. The downside appears limited, but a stop-loss of RM1.44 should be placed.
Malaysian Bulk may rebound after bouncing off the 200-day MAV line. A purchase can be made if it closes above MYR1.51, with a close below MYR1.46 as a stop-loss. The price target is MYR1.65, with resistance expected at MYR1.59. Failure to get above MYR1.51 could see the stock trade lower and supports are seen at MYR1.40 and MYR1.34.
I read most comments and found that Mosea is right. Buy Maybulk and the price will be RM2.60 before September. Imminent listing of POSH will at least give Maybulk a 30% boost in price.
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....
necro
4,726 posts
Posted by necro > 2013-04-08 21:41 | Report Abuse
Hidden bull divergence...