Chart 1: Bursa-CA's daily chart as at Nov 24
Chart 2: Bursa's daily chart as at Nov 24
Bursa-CA, the call warrant of Bursa Malaysia, has been running up very strong since its breakout above RM0.46 at November 10 (see Chart 1 above). It gained 12 sen to close at RM0.855 at the end of the morning session today. Bursa share price has gained 5 sen to close at RM7.00 at the same time.
During the period of 10 days, Bursa-CA's premium has increased from 2.65% as at November 14 to 11.77% as at the end of this morning session. Is this a sign that something bullish is ahead for the mother share?
If you look at the mother share's chart (see Chart 2 above), you will see that the share has been pressing against the RM7.00 level. A break above this level could be the start of another bullish move that may bring Bursa to its recent high of RM7.65. At the time of writing this post, Bursa is at RM7.05.
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