Yes Aug 2012 rally was a continuation after a small accumulation.. Ppl dumped too..
The last announcement of REEF is that DJ had purchased 1.3 Mil shares @ 19.20;
This is the rate it has come up recently too..
And that's coming up after a sale of 2.5 Mil shares by the said directors in Dec 2012. How smart?
In November 2012, fresh 17.9 mil shares were added to the list after the warrant conversion. Which was a failure too as they only gained a bit more than half of what they expected to gain.
As per the 31-03-13 results, REEF group has made some profits, not too bad for a hotel that has recently been refurbished.
However, an EPS of 0.37 is peanuts (that's too from Finance and share dealing profits and have to check the no of shares) but its worth for a start.
(They say there are 96,562,155 shares as of 31-03-13)
In total there are 62,922,604 REEF.W19 warrants to be exercised while 41,519,727 are owned by top 20 and 21,402,877 warrants are in free float too..
So we're betting on a play with 21.4 Mil shares..
Ppl dumped at the last runs.. May have accumulated too at 2-2.5 levels..
I'm seeing a weak ADX signal and a ADX cross over as of today as well.. I'm a bit releived as MACD is also positive..
So lets watch