Tuesday, June 20, 2017

MBSB: Uptrend May Continue

In January, I posted on the start of MBSB's next upleg (here). From RM0.96, MBSB rose to a high of RM1.36 in May. The stock consolidated for the past 6 weeks. Today it looks like MBSB is trying to break above the horizontal resistance at RM1.36. This could be due to market reaction to the news that it has applied for BNM's approval to begin merger talk with Asian Finance Bank.

If it can break above and stay above the horizontal line at RM1.36, MBSB could be a good trading BUY. If you choose to buy into MBSB, please exercise careful discretion given the current weak market sentiment. Do not over-trade! 


Chart: MBSB's daily chart as at Jun 20, 2017_11.40am (Source: Shareinvestor.com)

Note:  

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.
at

5 comments:

  1. UnknownTuesday, June 20, 2017 8:20:00 PM

    Good advise Alex. Thank

    What you think of KGB?

    ReplyDelete
  2. Alex LuFriday, June 23, 2017 10:06:00 AM

    Hi CW Co

    I am not familiar with KGB. Chartwise, it has broken its uptrend line at RM0.66 on May 25. It maybe forming a head and shoulders pattern, with neckline at RM0.60. As you may know, that's a reliable reversal pattern if the share price breaks below the neckline. If it has tested the neckline and rebounds upward, it will be a continuation pattern. The price movement going forward depends on the outcome of a possible test of the RM0.60 level.

    ReplyDelete
  3. UnknownSaturday, June 24, 2017 8:12:00 PM

    Hi Alex,

    Is the head formed as at today?

    ReplyDelete
  4. Alex LuSunday, June 25, 2017 9:35:00 PM

    Hi NCW Co,

    KGB has not formed a head & shoulders formation yet. Go to: https://www.tradingview.com/x/A3VlwpFx

    For more on head & shoulders formations, go to:
    a) http://www.investopedia.com/terms/h/head-shoulders.asp
    b) http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_top_reversal
    c) http://www.chartpatterns.com/headandshoulderscharts_.htm

    ReplyDelete
  5. UnknownWednesday, June 28, 2017 9:55:00 AM

    Thank Alex. I will check on the links.

    ReplyDelete