Maybulk share has gone ex its final dividend of 12 sen per share & special dividend of 18 sen per share today. As a result, its reference price was adjusted downward from its closing price for yesterday (April 23rd) of RM4.40 to RM4.10. In addition, the share price has also traded down by 4 sen to RM4.06 at the close of the morning session.
Looking at the chart below, you can see Maybulk share price has been moving in a short-term uptrend line, with support at RM4.00. Notwithstanding, the adjustment for the big dividend payment as noted above, I believe Maybulk share is a BUY at RM4.00.
Chart: Maybulk's daily chart as at April 23
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