Chart 1: BAT's weekly chart as at Nov 6, 2012(Source: Quickcharts)
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, BAT.
Wednesday, November 07, 2012
BAT below the RM60 psychological mark
BAT dropped by RM1.64 to RM59.80 yesterday. The stock has lost RM5.00 or 7.7% over the past 8 days. It has now broken below the psychological RM60 mark and the 20-week EMA line at RM60.38. Its next support would be the uptrend line at RM57 (coinciding with the 40-week EMA line at RM57.17). It is interesting to note that today is the last cum date for the entitlement of a dividend of 65 sen. Would the dividend be enticing enough to get investors to buy the stock today? Has BAT hit a double-top reversal, with more downside to come? Only time will tell.
Chart 1: BAT's weekly chart as at Nov 6, 2012(Source: Quickcharts)
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, BAT.
Chart 1: BAT's weekly chart as at Nov 6, 2012(Source: Quickcharts)
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, BAT.
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4 comments:
Hi Alex
How you read this semicon news http://adf.ly/EUCvH compare to http://stockcharts.com/h-sc/ui?s=$SOX&p=D&b=5&g=0&id=p39891143251
Pls share your thought...
hi alex-you hit bull eye with skpetrol and allianze.shall i exit now? thank you!
Hi charles leong
Taking profit is always a good policy in this 'trading' market.
Hi Cheer,
I can't get to the first link. If the question is about SOX index, my take is that that index is still in a long uptrend. It is not strong but the underlying technical support is present. So, I feel that semicon stocks like Unisem & MPI could be good for slow accumulation or at least a HOLD.
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