Tocean(7218) had hit limit up a few times

 Tocean(7218) named Billionaire Tan Sri Surin Upatkoon as the second largest shareholder with an 18.43% stake in the company on Wednesday (Nov 10).

The group did not disclose the price at which Surin purchased the stake comprising 12 million Transocean shares.

It is not immediately clear what Surin plans to do with Transocean, after emerging as a substantial shareholder.

Tocean this morning (Nov 11, 2021) opened at 3.30 and later jump to 3.75 to hit limit up price at 9:04 am

On Aug 30 2021, Tocean announced 2021 QTR result showing a net profit of 68,000.

Market players believed that this stock had been cornered. It had hit limit up a few times previously.

As of Nov 10, 2021, its support is at EMA 250 day MA which is at 2.86. Yesterday (Nov 10), it closed at 2.89.

Hot money constituted 30 % of the total volume yesterday and the rest was retailers.

The volume yesterday hit 50 day MA.

The sign of buying is not very clear. But this company is in logistic business which the market players like it very much.

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