A Bullish Patten From In AnnJoo-WB

Ann Joo Resources is a steel manufacture and trading company. The profile of this company is good with high cash flow, however this share did not give out good dividend base on the earning and cash flow it have. With steel sector recover from economic crisis news had start flow out in report and news paper, most of the steel company is start to bound up with showing a good financial result.

Base on the chart, AnnJoo is showing a bull rally sign with high vol on 18 Sept but money flow out from the share, the share price drop a bit and now bound back broken 18 Sept high to close at RM2.60. So if the money flow out on 18 Sept to use back to push up the share sure AnnJoo share price will have a big jump soon along with positive quarter financial result flow out. For long term investment I think AnnJoo is a good counter to invest in.

Is the mother share will or may be to rally up and you may found the share price is a bit high AnnJoo have a warrant code AnnJoo-WB. This warrant is expiry date at 10 Jan 2013 with exercise price RM2.50 ratio 1:1 and premium above 30%. Base on the chart AnnJoo-WB is forming a bullish patten ( Symmetrical Triangle ) so I think AnnJoo is about to show some good financial result or some good news will be flow out soon.

I think this few day development of the share price and vol may review so buying sign soon. For me I will buy AnnJoo-WB when the share price dip.

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