the company had previously bought the shares at cheaper price, now selling back to the market at a higher price. The profits will be reflected in the next quartely report --> good news.
Bad news is thatm, the amount of shares in the market will be increased, which means more ppl will hold it.
Selling trade was done early in the morning, mean 4000 big lot of share changing hand while market open today. Price being push up during the last hour 4pm to 5pm with big volume.. Fitters is going into another uncharted territory.
FITTERS is gaining strong interest from retail investors as the group sees robust prospects in its new venture – pipe-manufacturing business. The group is aiming to capture 10.0% market share in the water pipe industry by end-2015, and determined to grow the pipe venture to be as big as its original fire services business. From the technical point of view, FITTERS had broken out of an 8-month uptrend channel resistance, with high trading volume. Interesting to note that the daily MACD has just crossed over the zero-line yesterday, leading us to believe that follow-through buying are likely to emerge over the next few days. We anticipate a move towards RM1.00 (R1) fairly soon. Beyond this level, the next major resistance is located further up at RM1.03 (R2) and RM1.10 (R3).
Fitters Diversified Bhd has entered into a shareholders agreement and trademark or trade name limited licence agreement with Molecor Technologis SL and also signed a memorandum of understanding with AVK Valve Manufacturing (M) Sdn Bhd. The shareholders and limited licence agreements were in regard to the participation of Molecor Technologia in Molecor (SEA) Sdn Bhd and the relationship of Fitters and Molecor Technologia as shareholders of Molecor (SEA), as well as the Molecor trademark and trade name granted by Molecor Technologia to Molecor (SEA). (Starbiz)
Source: CIMB Daybreak - 26 March 2014
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
Ooi Teik Bee
11,526 posts
Posted by Ooi Teik Bee > 2014-03-24 00:42 | Report Abuse
I follow international colour, Down is red, up is blue.
Thank you.