Price on day of rights announcement O=1.28 H=1.53 C=1.46. If we take 1.40 as reference price and warrants disposal price at 20 cts....the current theorectical price shd be around $1.07. Based on this, at current price it is still relatively cheap !
BULL did not want to close the day even. VOLUME continues to dwindle for four consecutive days when the price continues it upward climb. At last when enthusiasms subside price action is weak and weakholders took profits from the four day's uptrend. Price closed one point lower than the previous day. This scenario is likely to change soon as the forecast Apr 24 earnings approaching. Time to accumulate at this opportunity esp BRIGHT-WA that is still hibernating.
bowman....Reference price=1.40, Right is 2 to 1 @ 55 sen, Free warrants is 2 for 3. Make it simple, i have 3k share....therefore entitle 6k rights @ 55 sen and 4k free warrants. My total cost if using $1.40 as reference is {( 3000x1.4)+(6000x0.55)} = $7500. If free warrants sold at 20 cts, total cost becomes $6700. Divide by 9k shares = 74.4 sen....sorry again..my earlier computation of 79 sen got error again...using 2k free warrants instead of 4k !
Bright day at Wall Street. Hope the same for Bright Packaging. Today will be the 3rd attempt for Bright to break the 78 sen resistant level. Can it succeed? We really need volume to break it.
Bright broke the 78 sen resistance level within one hour of trading. Volume was impressive but price could not close at the psychology level of 80 sen. However it was a different story with Bright-wb. After a brief hibernation, interests in the warrants in now in focus. It is playing catch up now and close with a solid body of 32 sen. What is the target price? Dunno but the chart is telling me let the profits run. Happy Investing!
Personally not advise to buy Warrant. Looks like this morning operator goreng mother share abit to attract ikan bilis to chase on warrant. Pity those who bought at 0.33-0.35 this morning.
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Posted by scyeap > 2014-04-14 10:27 | Report Abuse
the train leaving soon