According to our source, the morning sell down was possible due to some banker execute margin call and sell down with mercy. We all know that if margin call hit, banker will sell without thinking.
We believe the margin call sales have been completed where see start rebounding at RM 3.20 towards RM 3.30 at morning session.
Our source mentioned that margin call sales have already completed, whereby it's golden opportunity for people who do not have stock in hand to set entry as potential to rebound up quickly due to BONUS issue is coming.
SUPERMAX CORPORATION BERHAD ("SUPERMAX" OR THE "COMPANY") PROPOSED BONUS ISSUE OF UP TO 680,154,880 NEW ORDINARY SHARES IN SUPERMAX ("SUPERMAX SHARE(S)") ("BONUS SHARE(S)") ON THE BASIS OF 1 BONUS SHARE FOR EVERY 1 EXISTING SUPERMAX SHARE HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE OF SHARES")
We all know that SUPERMX can deliver much better result and profit in year 2019, looking at their new factory line and contact lens business running on track, we believe it's a good buy too.
Anything below RM 3.30 is really worth it !