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Hot Stock Engtex rises on imminent Selangor water deal agreement
by Cals Thu 25 Jun 2015, 18:25
Hot Stock
Engtex rises on imminent Selangor water deal agreement
KUALA LUMPUR (June 25): Shares of Engtex Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after the Edge Financial Daily, citing a source, reported today that a new supplementary water agreement is expected to be signed between the Selangor and federal governments today.
At 9.15am, Engtex rose 1.83% or 2 sen to RM1.11 with 666,500 shares done.
In a note today, Hong Leong IB Research said Engtex prices jumped 2.8% in heavy volume yesterday aftertheedgemarkets.com reported that a new supplementary water agreement is expected to be signed between the Selangor and federal governments in the near term.
“The downtrend breakout, positive divergence pattern and bullish indicators are likely to lift share prices higher towards RM1.14–RM1.20 levels, with long term objective at RM1.26.
“Supports are RM1.01–RM1.05. Cut loss at 99 sen,” said the research house.
Engtex rises on imminent Selangor water deal agreement
KUALA LUMPUR (June 25): Shares of Engtex Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after the Edge Financial Daily, citing a source, reported today that a new supplementary water agreement is expected to be signed between the Selangor and federal governments today.
At 9.15am, Engtex rose 1.83% or 2 sen to RM1.11 with 666,500 shares done.
In a note today, Hong Leong IB Research said Engtex prices jumped 2.8% in heavy volume yesterday aftertheedgemarkets.com reported that a new supplementary water agreement is expected to be signed between the Selangor and federal governments in the near term.
“The downtrend breakout, positive divergence pattern and bullish indicators are likely to lift share prices higher towards RM1.14–RM1.20 levels, with long term objective at RM1.26.
“Supports are RM1.01–RM1.05. Cut loss at 99 sen,” said the research house.
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