The buyer of 15 million shares bought at RM0.55. Do you think the price will traded below RM0.55?
How do you think the restructuring process will help MPCORP? In my point of view, it can definitely helps to settle the debt and in future it might unlock the value of landbank in klang valley, which potentially will bring it back to the RM1 level.
The right issue announcement might trigger buying interest as investors can see the potentially unlock value of landbank by MPCORP. The buying momentum might bring MPCORP to challenge its recent high which is also one year resistance. The next level to watch is RM0.595 which is also 12 years resistance. Lets watch closely see whether it able to break RM0.545 in short term.
First target price = RM 0.545 (+10%)Second target price = RM 0.595 (+20%)
Stop loss = RM 0.48 (-3%)