At 10.12am, it is priced at 0.485/0.49, there are 757,500 shares transacted. Why is it not moving? This is the issue when you have news coming in and the stock is not moving. Or it will need time to move because the news needs time to spread.
I am just recording what is happening so that it is easy to monitor the stock I am watching.
On August 24, 2009, at 18:56:58, Bursa came out with this announcement:
Remunia Holding Bhd proposed disposal of the Teluk Ramunia fabrication yard together with all moveable and immovable assets located thereon to Sime Darby Engineering Sdn Bhd for a final disposal consideration of RM 530 million to be satisfied entirely by cash.
Basically, you will have RM 530 million going to come into the Ramunia and the counter is just stagnant, at least at this moment.
Will it move? Is the fundamental moving the counter or is it technical? Let the time tells us.
Technically speaking, the counter went down to 0.445 on July 13, 2009 and rose to 0.635 on August 3, 2009, a rise of 19 sens within 21 days. After that it started to drop from 0.635 on August 3, 2009 to 0.48 on August 24, 2009, a drop of 16 sens within 21 days.
The above news came out after the market closed on August 24, 2009.
This counter should move, if it is not moving, then what is happening?
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