Chart 1: USD-MYR daily chart as at April 27, 2015 (Source: XE.com)
I failed to follow through and to call a TAKE PROFIT on many stocks that had benefited from the strengthening of USD-MYR in the past 8-9 months. In a mere few days, we saw sharp drop in the prices of exporters, such as E&E players or furniture makers. This correction has now spread out to second & third liners stocks in general. Since many of these stocks had run up substantially over the past 3-4 months, their correction will be very severe.
Be careful!
Chart 2: FBMFLG's daily chart as at April 28, 2015_3.40pm (Source: ShareInvestor.com)
Chart 3: FBMACE's daily chart as at April 28, 2015_3.40pm (Source: ShareInvestor.com)
Chart 4: FBMEMAS's daily chart as at April 28, 2015_3.40pm (Source: ShareInvestor.com)
7 comments:
Hi Alex ,
Can you comment on MHB fundamental and technical outlook ?
Thank you !
thankfully, i had do some rebalancing earlier and clear out those despite certain market experts still calling a buy on these sector while cutting losses on some 'hot stock'
anyway, keep writing objective commentary Alex as there are a lot of pseudo financial bloggers out there disgusting themselves as syndicate.
Hi Alex,
FBMSCAP drop a lot since last week, will it a sign of FBMKLCI is going to correction again?
Thank you
Hi East Point Trading
FBMKLCI will correct but the correction will be milder than the 3rd liner stocks or the fledgling stocks. The later category has run up quite significantly.
Hi luckystock2
MHB has dropped a lot- from a high of RM8.70 in June 2011 from a recent low of RM1.10.
I have a feeling that the bottom will be around RM1.00 and it may stay there for 6-12 months.
So, I won't be in a hurry to call a buy- even a long-term buy- until then. The same applies to Shell!
Could you give comments on dsonic? Looks like the stock in accumulation stage..
hi zakaria said...
There is not much to comment regarding Dsonic. It is resting at its support at RM1.05. It is trying to form a base at this level. It may rebound from here but it may not surpass the RM1.15 mark.
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