Share price is experiencing a "bonus overhang". Expecting short term selling pressure but it is supported by company share buyback and decent dividends. Requires a new catalyst for the next upward movement.
Buying at the last 10 mins of trading the past few days have been supporting the closing price. Buying volume is also high during the last 10 mins of trading. Who's been buying?
I doubt it will go down because of the conversion as the warrant/shares holders will not sell because the conversion price is at 2.40...doesn't make sense to convert at 2.40 n sell in the open market at 2.05
Overall market seems bearish. Next price uptrend is likely due to announcement of ex date for dividends (which should be this month) or obtaining new contracts.
Because firstly they are insider and veteran of oil palm plantation industry and they are of view that long terms prospects of this industry is still brilliant and rewarding.
Terry... suggest you to HOLD your cash for now.... you can track KNM after ex they will play. Other counters, still waiting for it to come down to target.
SAm Kee... 1st.ly you have to know share float is only 37% = sharks don't like to push it. fundamentally company is strong & positive. If you buy on dips like last few days around 1.92, you always will gain some easy money
how many of u all knows about utdplt...it is the best managed plantations group in Malaysia..probably in the world....and how many of u knws the cash balance of UP..its worth more around RM790mill!!..asset more than RM5bil!!
Do not be surprised if UP or another big plantation player such as Sime Darby decides to buy CBIP in the future. Synergistic purchase for the plantation companies...
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....
Steven Wong
113 posts
Posted by Steven Wong > 2014-11-25 11:46 | Report Abuse
but the share price is going downward.