I was asked by a friend to have a look at T7Global, previously know as Tanjung Offshore, whether technically it is OK or not.
T7Global's business covers seven sectors as shown below.
For quarter ending 30 Sept 2017 its earning per share is 0.84 sen with net assets at 33 sens a share. Not that good.
But technically T7Global looked bullish. From its long-term chart, since 2008 it has formed mega wave (1)-(2), major wave 1-2 and wave (i)-(ii).
Its wave (ii) was ended at the end of December 2017.
T7Global was actively traded today with 39.6 million share changed hand. It went to a high of 53.5 sens before ended the day at 50.5 sens gaining 5.5 sens or 12%.
Today it started its mini wave 3 with a big gap and with a Bang. Unfortunately it did not closed at its peak.
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