Boustead a good dividend paymaster

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Boustead is a good dividend paymaster. It pays dividend quarterly and the last dividend of 12 cents tax free was paid on 30th December 2010. I expect Boustead to pay another dividend in March 2011.The price has appreciated quite a lot and currently it has gone into a consolidation stage. Currently it is trading at about RM5.50 which may be an opportunity if the consolidation is about to end. If we look at the support line it is now sitting at the immediate support line and if this support is broken down on further consolidation it may drop to a level near to RM4.92. My opinion is that at RM4.92 it has good value and I will buy it for investment.

    The above Boustead chart is added to highlight a crucial moment. Crucial because today (8th Feb 2011) it close at RM6,03 which barely broke through the resistance, with good volume. Tomorrow will be even more crucial because if the strength of Boustead maintain its upward momentum and close even higher than RM6.03 (with volume) then RM6 will be the new support level and the price will go higher from here otherwise if the closing price on 9th February 2011 is below RM6.03 then it is a failed breakthrough. So open your eyes wide tomorrow.