Tuesday, March 28, 2006

LC Dev




LC Dev has been rising from 0.125 to 0.175 within 3 days. That is an amazing run. LC Dev has formed Three White Soldiers, which is a bullish sign. However, it is currently in overbought region. Using Elliot Wave, LC Dev has formed wave 1 from 0.095 to 0.135. Wave 2 from 0.135 to 0.115. Now, Wave 3 should have a target price of 0.18. Today, it has also announced the following news. Some profit taking will likely to take place in the short term.

L.C. DEVELOPMENT LTD
Company Registration No.: 197301118N
(Incorporated in the Republic of Singapore)
UNUSUAL TRADING ACTIVITY IN THE SHARES OF L.C. DEVELOPMENT LTD(THE “COMPANY”)
The Board of Directors of the Company (the “Board”) refers to the substantial increase in the price and trading volume of the Company's shares today. Further, the Board also noted the article in the Straits Times on Saturday, 25 March 2006 reporting on market information relating to the sale by the Company of its half-share of Paradiz Centre on Selegie Road. The Board wishes to announce that the Company has been in discussions which may potentially lead to the disposal of this asset by the Group. As at the date hereof, the Company has not entered into any definitive agreements pertaining to this potential transaction. An appropriate announcement will be released at the relevant time should a transaction materialise. Shareholders and investors are advised to refrain from taking any action, which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company.
The Board (including those Directors who have delegated detailed supervision of this announcement) has taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate and that no material facts have been omitted from this announcement, and they jointly and severally accept responsibility accordingly.
BY ORDER OF THE BOARD
Lee Sok Koon
Iris Wu Hwee Tan
Company Secretaries
27 March 2006

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