Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Tuesday, January 11, 2011

Hap Seng Consolidated

HSC share price tumbles from recent of RM7.51 and is selling below its proposed private placement price of RM6.43
A lot of people who bought in recently will be greatly disappointed.
Looks like it is well supported at RM 6.31 level ( FR 23.6%)
TA traders will be watching FR levels: 38.2%= RM5.51, 50%= RM4.89, 61.8%=RM428
Went low of RM 6.07, 5pm closing price RM 6.16

Buying 1000 shares at RM 6.10 entitle you to 2000 bonus shares, 600 RI + W
So RM6,100 + (3/5)x RM1.46 = 3,600 P + 600 W
If W = 0, P = RM 1.938. If W = 0.4, P = RM 1.871

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