Monday, October 03, 2011

MBFHldg may have a bullish breakout

In January 2010, the major shareholder of MBFHldg tried to privatize the company by way of Selective Capital Repayment to minority shareholders at RM0.65 per share (here). The deal did not go through. Is another privatization about to happen in MBFHldg?

MBFHldg broke above its horizontal resistance at RM0.74-0.75 today. This bullish breakout could lead to a continuation of the prior uptrend. As such, the stock could be a trading BUY. Traders & investors are however advised to exercise careful discretion in all trading activities in this uncertain time.


Chart: MBFHldg's weekly chart as at Oct 3, 2011_4.30pm (Source: Quickcharts)
at

6 comments:

  1. AnonymousMonday, October 03, 2011 5:05:00 PM

    Hi Alex

    Can you comment on YTL Power, it share keep testing all year low, trade at 1.65. Any sign of rebound?

    ReplyDelete
  2. Alex LuTuesday, October 04, 2011 9:33:00 AM

    Hi hng

    YTLPower broke its long-term uptrend line at RM1.90 last week. That's a very significant & bearish breakdown. Its next support is at the horizontal line at RM1.65 & then at RM1.50 & RM1.40.

    I may post on this stock today.

    ReplyDelete
  3. Chun MunWednesday, October 05, 2011 2:28:00 PM

    hi Alex,
    What is Free Detachable Warrants in for MBFHLDG-WA? Is it good?

    ReplyDelete
  4. Alex LuThursday, October 06, 2011 11:01:00 AM

    Hi Chun Mun

    Free Detachable Warrants is the complete name for company-issued warrant.

    ReplyDelete
  5. andySaturday, September 22, 2012 11:58:00 AM

    Hi Alex

    I've been following your blog and truly appreciate with your analyst.Can you comment on Mbfhldg, will it continue to go downside?

    ReplyDelete
  6. Alex LuMonday, September 24, 2012 2:04:00 PM

    Hi andy

    In this challenging time, I am quite impressed with Mbfhldg's price performance. This could mean that the stock may benefit from some corporate exercise soon.

    ReplyDelete