The HLBank buy recommendation on Friday probably helped with the increase in price and volume.
Technically, itt needs to break 48 to make things a bit more interesting. Ideally, it would be a plus to break through the last major placement price of 51.5. Those institutions who nought 80 million shares in the placement must have thought it was a good idea at the time, only to be whacked with MCO notices and a falling market after their purchases.

Let's hope Econplie can put a smile on Joyce's face this upcoming week :)

Dongbei....you will never go broke by taking a profit. :)

As for this continual buying at current levels, I've got no idea why it's getting such strong volume. Even in the after market auction it traded 826K to close on its high. Generally that is a positive sign.

My position still the same as yesterday, holding my investment stock but haven't been brave enough to pick up a trade at the current price.

These are the extensions to the current uptrend if it breaks and closes above 1.30.

TP1: 1.35
TP2: 1.38/39
TP3: 1.42

I haven't bought any trading stock, just placing the numbers to see how/if it plays out.

If the current uptrend remains in place, the next target level is around 10.58-10.62.

Looks ok so far.

NoPowerAtAll KWAP & EPF start disposed.
03/03/2021 6:08 PM

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You sound a lot like apple168 or his mentally challenged buddy, mywb.

Whichever one you are, you really need to get yourself out of the house and pick up a hobby or a woman. You are making a complete fool of yourself here.

You can do better, you know you can.

Fundamentally and technically it looks overcooked to me....BUT.....some fairly strong volume today, so perhaps there might be something brewing that we don't know about. I'll stick with my investment holding but not game to try a trade at current price levels.

All the best to those who are taking on the trade.

yep, all the way down to 9.80?

A suggestion for a new name for tomorrow.......NoIdeaAtAll.

Mr. NoPowerAtAll,
You may have to come back with yet another new name tomorrow after making such a dick of yourself with your new name today.

Have a great night!

9.80 before the dividend?....lol I WISH !!!

Welcome to the real world.

Thanks Wen Jun.

Yep, the price movements MIGHT be a bit muddy for a while and may need some positive news catalysts (Covid, economy, etc. etc.) for eventual further gains.

I have decided to retain my investment stock for the longer term but have now closed out all my trading stock in Aeon.

Only my opinions.

And now that it has touched its peak, let the shorting begin.......my guess.

Part of a post I put up on the 25th February....

"To the upside I can see a target point around 1.29/1.30 with a couple of speed bumps along the way around 1.23 and 1.26.
Downside levels/ supports are around 1.15 and 1.11/1.12. "

Since the date of the post, it seems to have done exactly everything that the technical figures had indicated.

Don't you just love it when a plan comes together :)

Yep Wen Jun, a very pleasant surprise.
I didn't expect to see it anywhere near 1.20 today.

I thought it might be timely to repost something I posted on Saturday, regarding technical uptrend forecasts.

Interestingly, it has been trading for most of the morning between P2 and TP3

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Posted by TreeTopView > Feb 27, 2021 3:25 PM | Report Abuse X

Here are the extensions for the current uptrend,

TP1: 10.23
TP2: 10.30 ( a key level that needs to be broken and CLOSE above, IMO)
TP3: 10.35/36
TP4: 10.41
TP5: 10.59

tradersampah, you are a funny guy :)

Thankfully the overall market is holding up well so far. There were some positive moves on the futures market on Sunday night due to chatter about the Bond yields topping out for now (a good thing).

I was expecting to see a lot of red around in this morning's market but that talk over bond yields on Sunday night has helped a lot for today, IMO.

Aeon hasn't broken 1.11, so that's a plus :)

gateway 31, the ex date hasn't been announced yet.
It should be announced around the middle of this month.

Here are the extensions for the current uptrend,

TP1: 10.23
TP2: 10.30 ( a key level that needs to be broken and CLOSE above, IMO)
TP3: 10.35/36
TP4: 10.41
TP5: 10.59

I wont bother putting up the retracement levels as everyone here seems to believe Tenaga won't drop below its current price (saves me getting any abuse :) )

I'll close by saying,it's great if it falls below 10 as it is a buying opportunity....or.....it's great if it goes up as we are making a capital gain. Win, Win !

Let's see what Monday gives us.

Have a great weekend.

Posted by Inikalilah999 > Feb 27, 2021 11:01 AM | Report Abuse

Look at maybank and public bank after announcement with good dividend price went up. So should be push up a little bit more expensive for people to buy after news around 10.40 10.60

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Inikalilah999, If Tenaga was to hit your forecasts of 10.40 or 10.60 this upcoming week, I'd be as happy as a pig playing in a pile of poop. It would confirm my sub 9.90 purchases were a good decision. All of us retailers want the price to be higher than our purchase price.

I'm not too convinced with your reference to Maybank and its "rise" after the quarterly and dividend announcement on Thursday. Yes, it did go up to an intraday high of 8.22 on Friday and closed at 8.03.
For a few weeks leading up to the quarterly, it generally traded around low 7.80's to 8.00 and was never really able to convincingly break 8.00 during that time. Yes, with the quarterly it has broken 8.00.....but only just. Could it go below 8.00 on Monday, possibly yes.

After reading Tenaga's announcement during the lunch break on Friday, the first thing I looked at was the very short term chart. What I saw was like a flashing neon light at 10.30 as a short term resistance. What was the day's high after the announcement? Yes, 10.30! Coincidence?

Please don't try to convince me that it was retailers taking it to 10.30 and then letting it fall back :)

Let's talk higher prices when it eventually breaks 10.30. If you think that will happen on Monday, then I REALLY hope you are correct.

All the best.

Posted by PenicRunFirst > Feb 27, 2021 10:50 AM | Report Abuse

next month Foreign Fund will come back KLCI
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I hope you are right because our market needs more capital injection to put in a more solid foundation to eventually move the market up.
All the political nonsense that is going on daily is not helping our cause, unfortunately.

Good morning PenicRunFirst,

I think you have misunderstood my points in my previous post.
Obviously I don't think that Institutions and fund managers have not been buying Tenaga in the recent past. Clearly they have. BUT....my point is they will, quite rightly, MAXIMISE their potential profits by using any means possible, that is the business they are in. They would be derelict in their duty if they didn't try to maximise any potential profits.

Also on you points about the Malaysian market not following the ups and downs of overseas markets, well you are partially right and partially wrong. If you look at ALL the financial indicators from overseas last night it is not just the equity markets that were hit. Precious metals, oil, bulk commodities, etc. were all weak, so that points to an OVERALL market weakness to me for Monday. You are obviously aware too that the US Bond Rate has been rising and in turn the US$ has risen through the back end of this week. Volatility will remain with the US$ for some time to come.

Let's agree that you cannot make up a set rule stating that the Malaysian market doesn't always follow overseas market, ok? :)

Living in Malaysia does sometimes feel like we are not living in the same world as everyone else....lol.....but we are :)

Have a great day and keep smiling.

p.s. If I'm wrong about the KLCI being down on Monday I will gladly apologise.......and I'll also be very happy with a positive market.

Meanwhile......back in the real world~~~~

Overseas markets took a hit on Friday night and I'd expect the Asian markets to follow suit on Monday. Aeon did very well holding the 1.15 support level during Friday's trading but I'd expect that level to be under pressure on Monday.

Clearly, I'm expecting a lower price on Monday.

The overall market will probably take a bit of a hit downwards on Monday, following volatile overseas markets on Friday night. With that in mind I'd expect Tenaga to follow the rest of the market down.

With the 58 cent dividend announcement yesterday my GUESS right now is that you will see fund managers using any market weakness to push down Tenaga to lower levels with the intention of accumulating stock prior to the announcement of the dividend Ex date.

The overall sentiment for many stocks on Monday will be negative and fund managers will use this sentiment to maximise their profitability.

My suggestion is for INVESTORS, not pump and dump short term traders, to take advantage of any weakness in the price. If it was to fall below my current average of 9.79 then I'll definitely be adding to my long term position.

Best of luck.

Figures very close to mine when we had the discussion in here a couple of weeks ago about Final Quarter/ Annual Results figures.

My estimates were:
Revenue for year Rm45B....Actual is Rm44B
Net Profit Rm 3.45B.....Actual Rm3.59B

Close...but no cigar :)

So, for this new financial year, Tenaga SHOULD at least increase revenue by around 11% to just come back into line with pre covid revenue.

Dongbei, regarding your comment about having a good feeling about this stock. I'd suggest that you shouldn't expect overnight miracles.
What does seem clear to me is that finally Aeon realise that their business model needed a swift kick up the backside and a modified structure to their business.

It took a pandemic for them to realise that it needed a major change and now the turnaround is beginning. This new approach should have started long before the covid pandemic but at least it has actually started.

As the country and businesses slowly come out of this current situation I think you will see a better and more efficient Aeon model than they had prior to the pandemic.

That model should be an eventual benefit to their shareholders. All IMO.

GemenchehLawyer.....are you new to stock market investing?

Can someone contact apple168 and let him know EPF are still buying Tenaga.
He urgently needs to advise EPF that they are making a huge mistake. :)

Unfortunately I made the same mistake and averaged in at 9.79.....silly me !!

Hi Wen Jun, I've taken a look at the chart after close today to see if there are any short term indicators for the next price move.
It's tricky because of Tuesday's price and volume spike which throws a bit of a spanner in the works.

To the upside I can see a target point around 1.29/1.30 with a couple of speed bumps along the way around 1.23 and 1.26.
Downside levels/ supports are around 1.15 and 1.11/1.12.

Consolidation around this current price would be nice to see for an eventual move up.

Roll the dice :)

An interesting quarterly with a couple of surprises for me.
Revenue down, I didn't expect that.
Profit up, which I'd hoped for, although the profit was higher than I had expected.....so that's a plus.

Just a personal observation regarding Aeon and the Covid dilemma, it seems to me that Aeon has finally put a strong focus on its business and staff structure. This was something (in my opinion) that has needed attention for quite some time and it has taken a pandemic crisis for them to actually focus on certain issues.

This will be a positive for the mid and long term as we slowly move out of this covid situation.

TRadersampah, why complaining? Surely you must have locked in some profits from the move from low 90's to high 1.20's.

The first 3 retrace points were 1.18, which it held until the lunchtime break. Next levels down were 1.15 and 1.11 which it marginally broke at 1.10.

Think I'll wait until I read the Quarterly before I make my next decision.

Very good volume yesterday with 12.9 million going through.
Today's volume is just.....WOW......with 13.6 million already through and it's not even lunch time yet!!

Hoping for a very solid quarterly to back up all this action over the past week or so.

Fly, my pretty one......fly :)

When you consider that the market is currently down 0.59%, Aeon is putting on a nice performance today.
A big hitter took out that 1.15 price point as there was over 1.2 million for sale when it was hit.

Some very solid buying leading up to the Quarterly.

Does someone know something we don't know? Nothing surprises me any more.

Renewed Target Prices IF today's closing price is 1.12.
I will adjust the prices if today's CLOSING price is either higher or lower than 1.12.

TP 1: 1.12
TP 2: 1.16/1.17
TP 3: 1.20
TP 4: 1.22/1.23

We will have the Quarterly released this week, so a positive quarterly result MIGHT lead to these projected target prices. Obviously, a negatively received Quarterly COULD cause a reversal in price.

I mentioned early last week that the chart was beginning to look interesting for an upward move, however , although the price did try to rise it failed to break 78.5. The overall market last week was soft/weak, so that certainly didn't help the upward move, with sellers moving in.

Today we are in the same place as we were early last week, with the Stochastics crossing over so we MIGHT see another attempt to break out of this current range. A more overall positive market this week (hope) may help Karex on its way up.

Disclaimer: I bought shares in this company last week.

Well done, Wen Jun.......drinks are on you !! :)

The price rise seems to all be going to plan so far. Nice price action this morning.

Considering the overall lacklustre performance of the market this week, Aeon has performed reasonably well.
Closing at 1.09 (just) on Friday can be seen as a positive, although it will need some solid action (volume) on Monday to confirm it has actually broken through the 1.08 resistance point.

My gut feeling is that it will keep moving upwards, basing that decision on the buying interest this week in a very soft market.

Let's see what Monday brings and if it can start heading to that next price point of 1.12.

Best of luck, guys.

And when you woke up from that dream, tradersampah, was there a damp patch on your bed sheet? :)

That's the fourth day in a row it has touched 1.08 intraday and the second day in a row that it has closed at the day's high of 1.08. Considering the state of the overall market during the last few days that's not a bad effort. Volume has also slowly increased over those four days too, although not big numbers.

We can perhaps dream of a better overall market tomorrow and maybe.....JUST MAYBE....Aeon can try to break 1.08 and head towards 1.12 before the Quarterly report.

Generally anywhere between the 20th and the end of the month, so any day next week.

If the uptrend remains intact, look for the following price points:

TP 1: 1.08
TP 2: 1.11/ 1.12
TP 3: 1.15/ 1.16

Current points to keep in mind are the Quarterly results, due in about a week's time. Also an announcement clarifying if they are going to retain the dividend policy, which was previously 4 cents.

Roll the dice :)

Good morning, tcgien.

Yes, an increase in volume could be the catalyst to help the price support all the other positive chart indicators. There was a bit more interest yesterday with the volume increasing by an extra 360K over the previous day. The overall soft market yesterday didn't do anything to help either.

The chart still looks tempting to me, so I picked up a few shares in this yesterday. Let's see what today brings :)

I was scanning through some stock charts yesterday afternoon and Karex was showing early signs of a move up. It's price has slipped from 80 to be floating around 75/75.5 for a few sessions but now has the appearance of some interest entering the stock.

Yesterday the MACD was close to crossing over and this morning it has finally broken through.
Yesterday's short term Moving Average was 76.5 and has just broken through this morning.
Stochastics have just moved out of oversold territory and are now just into "low neutral" territory.

What it needs now is an increase in volume to make this small move more convincing.
Obvious overhead targets are 80, 84 and 88.

Hong Leong Bank gave a buy recommendation last month on this stock with a valuation at 1.19 ( !!! ) but I wouldn't let that price influence you, as it feels like a million miles away from that price point right now.

Worth watch, IMO.

Apologies, I forgot to close my previous post by wishing all out Chinese friends a very Happy New Year !

Have a wonderful celebration. Eat, drink and enjoy and importantly, do it safely.

Hopefully we can all work together to achieve nice profits in the Year of the Ox!!!

All the best!

Technically, Aeon overshot the runway a little bit on Wednesday's trading due to the announcement of reopening shops on Tuesday night.

I'd mentioned during the day on Tuesday that once Rm1 was broken that I thought there would be a bit of a traffic jam up to 1.04 before any move further up. That theory got blown out of the water with Tuesday night's announcement.

However, thankfully we are back at the 1.04 price point and able to reset for the next step up.

All looking good to me so far.

I see.....well, we will come round with donations then.... :)

Leslie, we will be coming round to your house this weekend for drinks, to celebrate your Rm9.69 purchase :)

Below is a comment from apple168 from last week. He made many negative and false (lies) claims about Tenaga throughout last week.
Today he is claiming yo have made a profit from Tenaga.

Obviously the guy is a clown and a complete waste of space.




Stock: [TENAGA]: TENAGA NASIONAL BHD

Feb 5, 2021 9:02 AM | Report Abuse

Malaysia government is using Tenaga to help the rakyat by giving discount in electric bills. This will cut Tenaga profit margin! Lock profits and bottom fishing later! Who know Tenaga will trade below 8.0?!