It all started with Friday 17th July 2020 closing of RM 0.365.
The highest 4-day price was recorded yesterday at RM 0.465. Yes, it was 10 sen up i.e. 27% UP.
Technically speaking, the indicators are still positive to go upward.
The RSI has not reached the overbought yet. Moving Average prices are all above MA20, MA50, and MA100.
Is it possible that CAELY is now back as a potential takeover target? It has been on the takeover radar a few times before Mr COVID 19 entered the stage show. However, nothing came close that time.
I still believe that CAELY should test RM 0.50 which is its NTA. The potential suitors might consider the takeover value more seriously should it really hit RM 0.50 mark.
THE TARGET IS FOR TP2 AT RM 0.50
Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.