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:

  1. laiWednesday, May 22, 2013 12:57:00 PM

    Hi Alex,

    What do you think of Tanjung Offshore? Share price been flying these 2 days..

    Thanks.

    ReplyDelete
  2. Alex LuWednesday, May 22, 2013 2:16:00 PM

    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.

    ReplyDelete