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.
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.
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.