Chart 1: Cenbond's weekly chart as at Apr 15, 2015_9.30am (Source: ShareInvestor.com)
It is good to note that Cenbond is in a long-term uptrend line, SS, with support at RM1.20. See Chart 2.
Chart 2: Cenbond's monthly chart as at Apr 15, 2015_9.30am (Source: ShareInvestor.com)
Based on technical consideration, Cenbond could be a good trading BUY.
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, Cenbond.
2 comments:
Hi Alex ,
Can you comment on Malton's fundamental and technical outlook ?
Thank you !
Hi luckystock2
If Malton can recruit sufficient buying support, it may rebound back to its 2014 high of RM2.12-2.15. It would then mirror the May 2013 play.
The technical outlook for property stocks has improved in the past few weeks. Though the prevailing wisdom is that this sector will be weak for the rest of 2015, the recent strength may be a rotational play or it maybe early signal that the Government is about to ease some of its restrictive measures implemented in the past 2 years to curb speculation. We will have to wait & see.
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