JEL

JEL: Possible positive sentiments after news wires reported that POPIAH king Sam Goi Seng who looks set to become the controlling shareholder of JEL in a proposed private placement, may come on board the consumer goods distributor as a director as well. At a press briefing yesterday, JEL CEO said that Mr Goi, who is already a substantial shareholder of the co, has asked for a director seat if the placement goes through, adding that while he has invested in many co’s, there are very few in which he asked for a director seat which gives an idea that he's here for the long-term. Technically, indicators look oversold, with RSI and Stochastics all hovering ard oversold positions. Counter is currently testing its 20 day EMA, a close above those levels could potentially indicate higher highs.