ATTA form a bullish engulfing pattern today. It gained 5 sens (+3.8%) to close at Rm1.36. If my reading is correct, today's candlestick can be the first candlestick of minor wave iii of mini wave 3.
Once again its Warrant-B performed much better, gaining 9.5 sens or +22.6% to close at 51.5 sens. Its volume of 5.5 millions share is much higher than ATTA's volume of 1.2 millions.
Are the 'insiders' buying heavily the Warrant-B before ATTA starts to fly ?
Looking at the 1-Year chart, if the current run-up is the minor wave iii, ATTA still has a long way to go before completing its wave (iii). If the insider's target is Rm2.00 for wave (iii), there is another 64 sens (+47%) in front. If the Warrant-B can gain a similar 64 sens to reach Rm1.15, the gain is about 125%.
Please consider the above as my hypothesis for ATTA. Any action you have decided to take is at your own risk.
I am bullish but I can be wrong.
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