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Tuesday, October 30, 2012

Scomi - Indication of "accumulation activity" by buyer(CIMB)

In the ongoing tussle over Scomi Group, a question that many industry observers are asking is whether businessman Tan Sri Abu Sahid and/or parties aligned to him have secured control over Scomi. Dealers said it was also possible for other fractions could be seeking to strengthen their position in Scomi. They pointed to recent active trades in the shares and warrants of Scomi, noting that there was an indication of "accumulation activity" by buyers. (BMSB)

Smartbiz: Scomi lost strength after peaked at 0.445 on 15/10/2012. Price fell below the 20MV after moving in tight range for several sessions. All indicators show price has the tendency of moving lower. Its next support is 0.375 and then its 50MV which is around 0.355 now. The board tussle might give a chance for the price to return to its upward trendline.

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