Raffles Education: Oriental Century to delist.

News of delisting of Oriental Century seems to have impacted the share price of Raffles Education negatively today as price closed at 28c on higher volume. That 28c support is still holding up perhaps shows that the bad news has already been factored into the price.

Although we could see price going lower once the news is digested by market participants, fundamentally, I do not see Raffles Education's numbers too badly affected since Oriental Century is really old news.

Despite today's somewhat higher volume, a picture of low volume pullback is still quite clear. Higher lows on the MFI and RSI also suggest underlying support in momentum. OBV does not show any signs of distribution.

If 28c breaks, the next support is at 26.5c. Immediate resistance is at 29c.

I would keep an eye on the technicals as this counter could still have a nice recovery story.

Oriental Century to liquidate, delist from SGX. As Oriental Century is insolvent with very limited resources, it will not be able to make any exit offer to its shareholders. Raffles Education holds 29.9% of Oriental Century.
Wednesday, 27 October 2010

© 2010 - The Edge Singapore

Tea with AK71: MacDonald's Monopoly game.

The last time MacDonald's conducted a game of chance with Monopoly, I was not aware of it until it was halfway through. I found the idea quite ingenious. However, by then, the top prize had been won.

This time round, I am quite early in my discovery and I stand a chance of winning the top prize of S$80,000 cash! I have "Marina Bay" and need "Sentosa Cove".  There is only one "Sentosa Cove" tile in the whole of Singapore since there is only one top prize.  Whoever wins in the end is very lucky.

There is also one car to be won, a 1.6 litre KIA SOUL.  I have two of the three tiles now: "Ardmore Park" and "Holland Road".  I need "Orchard Road".  There is probably only one "Orchard Road" tile in the whole of Singapore too.

It seems that I will be having more value meals at MacDonald's for some time to come.