CAB follow the triangle pattern, cut lost point should be set around 0.61/0.615 . 9 month QR in good result but share price just maintain around the range, it is not a good sign. anyway its in the chart pattern for me to follow. make clear that I do not hold any position. only a study case.
first set the cut lost point before enter. I think the first resistant at 1.29 will break easily and going back to it fundamental value around 1.30-1.40.
the story start around November 2019, a Taiwanese bought 162.33 million share (27.52%) at RM0.3866. a private placement of 10% equal to 58.987 at RM0.2388 on August 2020 allocated to the same party. one year later around September 2021 right issue announced 1 for 1 with free warrant, RM0.22 per share done. capital injection due to company cashflow problem. 1 year...
a breakout in recent weekly chart of head and shoulders. cut loss point set around 1 cent. dividend announcement is coming, and it will be the highest in 3 year. May QR will be a surprise.
in weekly chart, it show double bottom. In daily chart possible a head and shoulder. left shoulder and head already form out. right shoulder waiting to confirm.
