Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study


Tuesday, January 19, 2010

MRCB falls, right issue going ex on Jan 28

KUALA LUMPUR: MALAYSIAN RESOURCES CORP [] Bhd's share price fell in active trade ahead of the renounceable rights issue of up to 482.27 million new shares going ex on Jan 28.

At 3.20pm, it was down eight sen to RM1.57 with 9.02 million shares done.

The FBM KLCI was up 1.2 points to 1,299.19. Turnover was 875.98 million shares done valued at RM892.2 million.

The entitlement date for the rights shares is Feb 2. The corporate exercise involved the rights issue on the basis of one rights share for every two shares held on Feb 2 at 5pm at an issue price of RM1.12 per rights share.

The rights issue is to raise gross proceeds of up to RM566 million.

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