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Sunday, February 7, 2016

M1

M1 - 7th Feb 2016

M1 had a super solid thrust bar with good volume of  6.2m shares changing hand couple with a good jump of price from $2.33 to close at $2.53 . A significant increased of 8.5% .
The run up is most probably could be due the sale of M1 shares by KepCorp that may have triggered this great leap of price.

So far there is no confirmation of any offer yet from any potential buyer.



In view of the current weak market sentiment, it would be good to lock in your profit first as Last Friday prices seem to be over-run and it may retrace any moment without further evidence of any concrete Buyer offers for the M1 shares being owned by KepCorp.

The immediate resistance will be at $2.60.
Breaking out of $2.60 may see it price rises further towards $2.68.

The only consolation is that both MACD & RSI are showing sign of a positive divergence that may provide further indication that the share price may continue to move up.

Be extra cautious.

(trade base on your own decision)


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