Posturing on the RCE AscentAre we in for another good round of price ascent on RCE? Is it a sudden boost of retail play or is it something more?
Except for the civil servant salary trigger, all is quiet on the corporate raiding front. What ever happened to those parties that were amassing RCE shares earlier in the year from February onwards? Did they just stop short and are contentedly happy with their holding status? What about Midas touch fund manager Goldman Sachs? Are they not acquiring more shares since there is now more upside for RCE in terms of future value with the public sector salary hike? What about GE? Maybe Azman is more amenable these days to share management control of RCE than before as his hands are full taking the AmBank Investment Group private. What about the HSBC (HK) buyer? What are their plans too?
You can never stop asking questions when a hot stock such as RCE is being pursued by so many interested parties including those from overseas. We have to wait for new developments if the share rise today represents buying from these parties.
There are two scenarios.
If it is just mere churning by syndicates and retailers, then I can see the immediate price level leveling off at RM1.15- RM1.17 max in the near term. Including the 8 sen gained today, we could possibly see the share being chased up by another 8 to 10 sen gain by Wednesday. We may even have an intra-day high of RM1.20- RM1.22.
If it is corporate accumulation, then we should see a more steady incremental price increase by a few sen each day; beginning with the T+3 period this coming Thursday. Once all the footloose weak buyers have left the market, RCE would consolidate for the next climb to the RM1.30 level as foretold convincingly by ASEAMBANKERS.
So sit back now and watch RCE fly!
Heartsong
Except for the civil servant salary trigger, all is quiet on the corporate raiding front. What ever happened to those parties that were amassing RCE shares earlier in the year from February onwards? Did they just stop short and are contentedly happy with their holding status? What about Midas touch fund manager Goldman Sachs? Are they not acquiring more shares since there is now more upside for RCE in terms of future value with the public sector salary hike? What about GE? Maybe Azman is more amenable these days to share management control of RCE than before as his hands are full taking the AmBank Investment Group private. What about the HSBC (HK) buyer? What are their plans too?
You can never stop asking questions when a hot stock such as RCE is being pursued by so many interested parties including those from overseas. We have to wait for new developments if the share rise today represents buying from these parties.
There are two scenarios.
If it is just mere churning by syndicates and retailers, then I can see the immediate price level leveling off at RM1.15- RM1.17 max in the near term. Including the 8 sen gained today, we could possibly see the share being chased up by another 8 to 10 sen gain by Wednesday. We may even have an intra-day high of RM1.20- RM1.22.
If it is corporate accumulation, then we should see a more steady incremental price increase by a few sen each day; beginning with the T+3 period this coming Thursday. Once all the footloose weak buyers have left the market, RCE would consolidate for the next climb to the RM1.30 level as foretold convincingly by ASEAMBANKERS.
So sit back now and watch RCE fly!
Heartsong
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