MBF is the latest stock rumored as another candidate to be taken private, according to the latest issue of The Edge Malaysia weekly. Trading volume in the stock has obviously increased drastically since late-September 2011 and thanks to the strong buying interest, its share price has rebounded sharply from RM0.50 to as high as RM0.87 yesterday. Judging from MBF’s share price, which has retraced by about 9% from yesterday’s intra-day high, the stock may start to take a breather. If its share price starts consolidating, traders can consider accumulating the shares closer to the RM0.70 support level, but beware of the possibility that the company might be privatized at below the entry price point.
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