Friday, August 27, 2010

Bought Mudajaya today - 27 Aug 2010

Mudajaya, a company that its share plunged from a high of 6.00 mainly due to the probe by SC, caught my attention when it hits below 4.00.  Having a good support at the range of 4.06 to 4.20, I decided to queue to buy some and finally got it today at 4.10.  It's been a few weeks since the company was probed by SC and no news released so far.  As the saying goes, no news is good news.  At the same time, there were some major shareholders who acquired some good quantity of shares too.  The latest quarter earnings released just days ago and it looks really good.  With all of these factors put into consideration, I'm confident Mudajaya can move back into the range of 5+.

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