EDUSPEC (0107) - TOO HOT TO RESIST THIS STOCK, GIVING OUT FREE CASH!
Please refer to Part 1 here, for better understanding:
As expected, Eduspec’s share price has broken the resistance level of 5sen and 6sen, and this breakout would see the share price to move higher.
Although the share price has made a correction in the last few days and today to flush out contra players(pulling sellers out from queue sell orders at high price to sell force selling it at 5.5sen-6sen), the BULLISH signal remains intact as it has maintained above 5sen level.
In fact; the share price is still above (1) ichimoku cloud, (2) 20/50/200-day SMA and (3) RSI indicator has yet reached overbought level.
Also, if the RSI has reached overbought level but at the same time, the share price make another breakout of resistance level of 10sen, the RSI can continue to stay in overbought level for some time and share price will continue move higher!
It is now on the way up towards 10sen. The share price will continue to rally above this level until the ex-date for free warrants.
Remember this! The beginning of a rally is always the hardest part, flushing out contra players and traders, who trade for a half or a 1sen. Momentum will gain traction when these people are out of picture. Look at the recent ones - Focus, KNM etc. Nobody believed it would be traded at the current price 1-2 months ago.
The Board of Directors of Eduspec Holdings Berhad ("EHB" or "Company") wishes to announce that all the resolutions as set out in the Notice of the Extraordinary General Meeting ("EGM") dated 18 July 2019 were duly passed by the shareholders of the Company present at the EGM held on Friday, 9 August 2019.
All the resolutions were approved by way of voting by poll and the results were validated by Scrutineer Solutions Sdn Bhd, the Independent Scrutineer appointed by the Company. Append below are details of the polling results.
This announcement is dated 9 August 2019
INFLOW of funds has intensified on the strong buying interest for free warrants and its fundamental growth story, judging from money flow indicator.
Momentum has picked up and is still far from finish. No sign of slowdown and still has upside room to push the share price higher, judging from momentum indicator.
This is also confirmed by MACD histogram, which just expanded.
The TECHNICAL Target Price of 25sen is based on Fibonacci projection. Not a made up story.
For now, resistance stands at 10sen, followed by 11.5sen and 15sen.