The last 2 days had seen vol shot up from 300+ to 400+ millions shares in record selling n buying all the way from 48c .practically all the contra n day traders had been cleared n may be left a few left. Vol becomes smaller meaning to say that stabilization is around thd corner. Sharks had accumulated enough bullets to pump again. This time will see 55-60c in the near term given that all its apparatus for o&g has been in max utilisation in contract service . Coming qtr expects to be better than usual.
Just ask yourself if the current oil price rally is sustainable or just a short term event. Please also check back on why the oil price fell at the first place since 2014 and if the cause of that fall is still here. Please also remember that you can only make money by guessing future event, not based on what the market already know. Reasons like improved financial result is needless to say as there will be interest savings after the right issue and market would have factored in this scenario already. Also remember the average cost of PNB is not the IPO price of RM2.80 after they exercise the right and warrant. I believe is less than RM1. This company is not cash rich. If they are, they won't need to do the RI. The name UMW is just a name. All the UMW old timers are no longer in this company. The word "oil and gas" is very wide. The exact word to describe this company is "offshore drilling". They also do pipe threading but that's less than 10% of their turnover.
I think the T+4 for those who bought at uptrend and high volume on 6/1/18 to end as soon forced-sales is executed as soon as market resume trading at 2.30 pm. Then hopefully buying-in of new portfolio to cone in...
Sharks r buying n dumping , contra players already out during 10%drop. The drop now is 20%.The buyers r fr institutions n insiders , they were the ones dumping n buying . No way , small fries can have the financial capabilities to buy n sell in excess of 400+ millions per day.
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Posted by leslieroycarter > 2018-01-11 10:34 | Report Abuse
The last 2 days had seen vol shot up from 300+ to 400+ millions shares in record selling n buying all the way from 48c .practically all the contra n day traders had been cleared n may be left a few left. Vol becomes smaller meaning to say that stabilization is around thd corner. Sharks had accumulated enough bullets to pump again. This time will see 55-60c in the near term given that all its apparatus for o&g has been in max utilisation in contract service . Coming qtr expects to be better than usual.