Malayan United Industries Bhd (Rm 0.325)
Mui gained 7 sens (+27%) today with 144 millions shares traded.
In the last six years, Its stock price has been moving side way forming its A-B-C-D-E mega wave (2) that was finally completed by end of August 2013. In the next 10 months from August 2013 to June 2014 it completed its major wave 1-2. It took another 4 months until last week to complete its wave (i)-(ii). Finally the most juicy leg, the wave (iii) of the major wave 3 of the mega wave (3) started with a bang, it added 27% within a day accompanied by very high volume.
The catalyst -
1. Mui is said to have appointed Debutesq Group to sell its 390-room Corus Hotel Hyde Park London for Rm 1.06 billion.
2. Dr Yu Kuan Chon, owner of YNH Property Bhd is buying Mui.
Click 'Rumoured London Hotel Sale' for more information.
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