for owner he wont sell his controlling block and what ever money he took back from PA and warrant is bonus to reduce his cost of takeover earlier, you cannot compare his cost and your cost. he may also make from injection of project and land
I think no point to gain control of this company. The company is very much relying on the political link directors to get new projects. Should anybody else gain control the company and kick the existing directors out, the company will be very hard to find new jobs.
@richkid, smart people don't buy this stock. The folks with the 1.622m new shares are plain lucky. This is a push and dump. There is no way the parent price is going to hold once more of the converted shares come into the market.
SGB has good news last few days, and that's why it went crazy by gaining over 100% to the peak of 1.43. This fall is already expected as a retracement but what's not expected is the bad economy news hit to Malaysia in last few days - and that's why KLSE index also dropped. So, retracement + bad economy news = prolonged retracement or oversold. After retracement, that's what rebound will take place. Hope today is the rebound day because 0.60 seen to be a very very solid support!
From 1.43 to 65 retracement. Looks like it is holding like a charm. Set to take off from this point as KLSE index showing signs of recovery. Tomorrow might be a retest of 70 sen. Those who collected at 62.5 sen should be quite safe.
according to my observation from past few days, big q will block the price and continue until closing. If price go up beyond 0.65 then congratulate everyone who jump in today.
@RICHKID, don't need to close above 0.655. Just close at 0.655 or 0.650 is already enough, it will create a doji candlestick for today, and tomorrow a big green candlestick.....that makes a very pretty "Morning Star" pattern. :D and everyone love to see morning stars.
I don't see any reason for them to "big dump" at current price. this is the price before goring. right now is only contra player changing hand and some force sell.
Maybe something is brewing soon again. This stock is small and easy to fried..just like comcorp. And it is making some profits and with the speculation that it will move into property...the more people likes to goreng. No wonder it was pushed so fast to $1.43 as it has very little share.
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BetterTomorrow
1,210 posts
Posted by BetterTomorrow > 2016-05-04 11:46 | Report Abuse
for owner he wont sell his controlling block and what ever money he took back from PA and warrant is bonus to reduce his cost of takeover earlier, you cannot compare his cost and your cost. he may also make from injection of project and land