BINTAI KINDEN CORPORATIONMy view on BINTAI:
1) Im looking to enter in the Cyan zone.
2) My entry is upon bullish reversal of Stochastic indicator in M15 timeframe.
3) My targeted profit zone is around 0.740.
BINTAI Fundamental overview:
Share prices of both Yong Tai and Bintai Kinden have skyrocketed since announcing their respective vaccine distribution ventures last year. Bintai Kinden's stock performance has been even more impressive, having jumped over 505% from 11 sen a year ago to 66.5 sen today. However, from its recent closing peak of RM1.39 on Dec 7, 2020, it has fallen about 51%. Prior to the announcement of its vaccine venture, the stock had been trading below 20 sen for three years.
Interestingly, Bintai Kinden's largest and second largest shareholders dumped the company's shares in December — four months after the August announcement of Bintai Kinden's venture into the healthcare business.
Its second largest shareholder Nusankota Development Sdn Bhd sold its entire stake of 50.03 million shares or 14.4% interest in the company in the open market on Dec 16, 2020. On the same day, Bintai Kinden's largest shareholder, Bintai Holdings (M) Sdn Bhd, sold 28.5 million shares or a 8.14% stake in the group, which reduced its shareholding to 31.69 million shares or 9.05%.
