The rally in Harta - like that of MBMR - seems to point to a new theme-play involving stocks that had recently issued warrants. Without an overhang of investors holding onto more expensive securities, new warrants can rally to their hearts' content. We cannot be sure whether the stock is rising and accommodating the rally in the warrant or the rise in the warrant is dragging the share price higher. My thought is that we should not waste too much time pondering about this question and get into the next new-warrant rally quickly.
Chart 1: Harta's weekly chart as at July 4, 2012 (Source: quickcharts)
Chart 2: LMCemnt's weekly chart as at July 4, 2012 (Source: quickcharts)
Chart 3: Zhulian's weekly chart as at July 4, 2012 (Source: quickcharts)
4 comments:
Hi Alex ,
Can you comment on Affin's fundamental dan technical outlook ?
Tx!
Hi Alex,
MBL, i saw your post last time when the stock price still below RM 1, last 2 day the stock show bullish breakout which making historical high, may i know is it still worth to buy and what is the target.
Hi Ng
MBL may hit a target of RM1.35-1.45.
Hi luckystock2
Affin will try to retest its recent high of RM3.60-3.70. If it can surpass that it may test the strong horizontal resistance at RM4.00.
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