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Tok Tiong. It is stated in the document of Xnergy acquisition at 110 million. BM is a good stock, I made 50% and TP at 2.08, I wait for it to make higher profit after aquisition.
?Trading Idea: BM GREENTECH BERHAD (Find us on tele)
BUY/LONG: +/- RM1.78
SL: RM1.47 (14.53%)
TP1: RM2.11 (18.54%)
TP2: RM2.47 (43.60%)
REASON: BM Greentech is gaining attention due to a potential acquisition that could significantly boost its value. The company is reportedly in talks to acquire assets related to renewable energy infrastructure, which aligns with its ongoing expansion in the green energy sector. This acquisition, if approved, would allow BM Greentech to strengthen its position in the renewable energy market, opening doors for increased revenue streams and market share.
Additionally, the company is awaiting approval for a new warrant that could inject more capital into its operations. The big boss has been buying shares at RM1.60, signaling strong insider confidence. Technically, the stock is forming a symmetrical triangle, suggesting a breakout. Strong support lies at the 0.618 Fibonacci level (RM1.53), with a potential move toward RM2.11 and RM2.47. The risk/reward ratio of 3 makes this setup attractive for long-term investors.