Oceanus Grp: Up 8.2% at $0.265, in strong vol of 6.8m shares, with no newsflow from the world's largest land-based abalone producer, which also runs a chain of abalone-based restaurants, since it announced a change of CFO on 16th Mar. An analyst from a foreign house tip that rise most probably has nothing to do with any fundamental changes. Add that previously the selldown was slightly overdone, and what we have now is a healthy technical rebound….
Oceanus fell 33% from 21st Feb when it posted a profit warning for the 4Q and FY10, to a low of $0.190 on 17th Mar; since then it has put together six straight sessions of gains including today. The analyst add that the strong showing has nothing to do with the Japanese situation at all, amid worries over radiation contamination to Japanese food exports. Orderbook quotes suggest $0.270 resistance.
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