Between 15th October 2010 (Friday) and 18th October 2010 (Monday) Batu Kawan formed a gap up from 15 to 15.30 with a relatively large volume which is shown in the chart above. This is partly because on 14th October 2010 CIMB Investment Bank published a very rosy picture of Batu Kawan as a potential privatisation candidate and attach a value of 18.02 to Batu Kawan.
There on, this counter has a fair bit of fluctuations and went on to form a bear divergence. with both MACD and RSI. This bear divergence push it to a mild correction (which suggest strength) on smaller volume.
At the moment it is traded cum dividend. The 50 sen single tier dividend will only go ex on 22nd February 2011. So there is ample opportunity to accumulate Batu Kawan now. Not only the investor will enjoy a handsome dividend but also can ride on the strength of an up trend journey.
Another important point is, Batu Kawan holds 45.65% of issued shares of Kuala Lumpur Kepong (KLK). KLK's closing price on 24th December 2010 is 21.78. On a very conservation estimate of just taking the worth of 45.65% of KLK at 21.78, Batu Kawan is worth more than 24.
So if anyone is thinking of investing in KLK, Batu Kawan is much cheaper proxy to investing in KLK..
3 comments:
Great blog at least I think so. Thank u a lot for providing this information.
Tim Octocus
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Nice blogpost as for me. Thank u a lot for enlightning this data.
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Good article, sweetie! I'll be waiting for more! BTW, try to make your website a little more social.
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