Wednesday, January 02, 2013

One Up For Multico

Multico has announced that Dato Abdul Hasan (2nd Defendant) has agreed to pay back to the company Rm22,000,000, after the market closed today.

This means that for the financial year ending July 31, 2013, Multico's EPS will be boosted by 48.5 sen per share. For details of the payment, please refer to Company Announcements at Bursa.

The chart above clearly shows that accumulation of the stock has been ongoing for the past several trading days. So are charts useless or useful?

If you know how to read it, it is useful. If you don't, then of course, it is useless.

Multico is likely to move up further.

Happy New Year.