Tuesday, January 15, 2019

IJM & GAMUDA: Looking like 2009

When you compare the charts of IJM and GAMUDA last 12 months with the charts for 2008-2009, the similarity is pretty uncanny. It looks like both stocks are tracing out their bottoms. Take a look at the MACD and ADX indicators.

1. IJM

Chart 1: IJM's monthly charts for 2007-2009 & 2017-2019


Chart 2: Gamuda's monthly charts for 2008-2009 & 2018-2019

I think that it may be a good time to nibble into these 2 construction stocks.

1 comment:

Mondial Capital said...

We see a double bottom bullish reversal which suggests buy signal as well as indicator RSI, ADX also suggesting buy signal.