BTM RESOURCES BHD - Riding the Penny Stocks Rally ! Great Prospect Ahead ! Power Plant Approval !
BTM Resources Bhd is a Malaysian investment holding company. The principal activities of the company consist of investment holding and the provision of management services. The business activities of the company comprise logging, sawmilling, trading in sawn timbers, plywood and logs, timber molding and manufacturing of finger-jointed timber and lamination boards, and letting of plant and machinery. The company generates the majority of its revenue from Malaysia.
Fundamental Analysis
By signing the power purcahse agreement with Tenaga Nasional Bhd, BTM is expected to contribute a postively to its future earning for 21 years !!! Do you guys know 21years is how long ?! A company with such good prospect is deserve to look into it.
Technical Analysis
A huge surge for BTM since the news is released on Friday 3 July 2020, many people rushed to buy into BTM because they saw such good news on BTM. As you guys know, no stock can rush immediately until no retrace at all. The stock price hit RM0.225 which is 52weeks high on that day. Currently, BTM have stopped the selling and shows a sign of rebound RM0.165 on Friday. I'm expecting a great rebound with sustainable rally on this company.
The Support Level for BTM : RM0.155
The First Resistance Level for BTM: RM0.23
The Target Price for BTM: RM0.30 ( time frame: 1week - 1months )
BTM will be the focus of investors as market start to notice a great development in this company. Not to forget BTM is a small share based companies with 141MIL shares only. The Top 30 shareholders hold more than 70% of shares in this companies. Looking at such development + recent BULL Market in Bursa Malaysia like most of all the penny stocks such as SAUDEE, ANCOMLB & XOX. We can see more exciting moment for BTM. Do not chase high on any stocks in Bursa Malaysia. Look for a great company like BTM which currently discounted more than 30% from previous high !
Disclaimer:
All the views and opinions expressed in our post are for education and informational purposes only and it should not be considered as professional financial investment advice or buy/sell recommendations. I strongly encourage you to do your own research and take independent financial advice from a professional before you proceed to invest.
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