This news can only be bad for RHBCap, which explained why the stock has been dropping for the past few days. This morning the stock hit a low of RM9.05. It may revisit this level again and possibly testing the psychological level of RM9.00. If the latter failed, the next strong support is the uptrend line & horizontal line at RM8.50.
Chart: RHBcap's daily chart as at June 23, 2011_11.00am (Source: Quickcharts)
11 comments:
Hi Alex,
can you please comment on MAS and Hubline, Thanks
But ADCB to sell RHBCap shares at RM10.80 each
M'sia has a habit of always wanting the biggest, tallest, widest, fastest things but it dont work that way. Competition is needed not corruption or monopoly.
Your last analysis on Perisai was published on 23rd March 2011. Since then it reached a high of 93 sen on 30th March 2011. Today CIMB published a recomendation on Perisai which has escalated the interest on this stock. Could you please comment on Perisai. TQ
Hi Alex,
Does it present a buy opportunity of RHBCap at this moment ? What is the fair price of RHBCap ?
Hi Alex,
Can you comment on HIRO,SUNWAY and WCT?What could be the best entry price for each of this?
Hi Alex.
Crude oil has been dropping everyday. What's your view on this? How do you think it will affect the stocks particularly Esso? Thanks.
Hi JY
Esso looks very toppish. I believe that you should avoid the stock or take profit now.
Esso's recent high profit is due to low inventory cost which lead to high profit margin. Once crude oil prices dropped, selling prices at the pump would ease off & the profir margin would normal. If crude oil prices dropped further, Esso would start to lose money.
The high share price is not sustainable unless there is some corporate exercise.
Hi vincent
The good entry price for the following stocks:
1) HIRO- at RM2.00 (LT uptrend line)
2)SUNWAY- at RM2.55 (horizontal line) or RM2.45 (LT uptrend line)
3) WCT- at RM2.95-3.00 (LT uptrend line)
Hi aro
I have read similar reports on Perisai a few weeks ago. I called a BUY on Perisai based strictly on technical analysis.
On the same basis, I believe that the consolidation in Perisai is nearly over. The stock formed a base at RM0.70-0.80. The past 2 days, Perisai has recovered above the RM0.80 which could be the start of a recovery. However, the volume is not significant. If it can recruit sufficient support, The stock may continue to rise. Perisai would be going up against strong headwind from a declining crude oil prices over the next few weeks.
Hi 天河上游
Mt technical take on the following sotcks:
1) MAS is still in a downtrend. It has a good rebound over the past few days. If it can cross the RM1.60 level, it may go further to test the RM1.75 level. I believe this rebound would be check between these two price levels.
2) Hubline is still in a downtrend. It has formed a base at RM0.115-0.13. I believe it will continue to trade within this range for a while.
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