This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Wednesday, May 22, 2013
Sarawak stocks due for a correction?
Yesterday, I posited that property stocks may have overshot and are thus ready for a bit of correction. The other group of stocks that has done very well is the Sarawak stocks, whether Oil & Gas stocks or not. There are tentative signs that these stocks may have reached a temporary top. I have listed 3 of them below.
Chart 1: CMSB's daily chart as at May 22, 2013_9.30am (Source: quickcharts)
Chart 2: Deleum's daily chart as at May 22, 2013_9.30am (Source: quickcharts)
Chart 3: Dayang's daily chart as at May 22, 2013_9.30am (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, CMSB, Deleum & Dayang.
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2 comments:
Hi Alex,
What do you think of Tanjung Offshore? Share price been flying these 2 days..
Thanks.
Hi lai
Tanjung Offshore's strong resistance is at RM0.70-0.75. It is a loss-making company. Until I see some profit, I think it is a stock to avoid. Its good support is at RM0.50.
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