OSK - First day surging with volume, it was a rebound from its low of 1.35.
Well, this happened after the interview with Tan Sri Ong Leong Huat - Founder & director of OSK Holdings Bhd. He stated that he isn't cashing out from OSK and that he sees the value in RHBCap and therefore, the merger was to help OSK and its stakeholders to benefit in the longer run, to grow bigger and to be a more competitive entity.
Tan Sri Ong believes that OSK Holdings should be able to be released of its PN17 tagging note by Bursa Malaysia post completion of the merger, as it still holds a book value of est; RM 2.34 per share.
So, will this be a successful rebound?
We should be monitoring 1.41 level to breaking it successfully, will lead us to 1.50 resistance. It has a pretty good volume today, with RSI and Stochastic starting to make a U-Turn pointing upwards, with its MACD almost crossing the signal line too.
Will it be another good round tomorrow?
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