Nice post and very much informative.
I would like to create a community over telegram. If you want to join just show me the interest

big news coming. stay connected

Malaysia seems to be lagging off, and didn’t enjoy the benefit of reflation. Every market doing pretty well, except Malaysia. If you look closely at the picture in attachment, other benchmark across regional and global markets enjoy good rebound, meanwhile Malaysia is at -8.8% YTD.

Valuation of the market: KLCI forward PE

In the medium term perspective, KLCI is actually at attractive areas which it is undervalue than the average PE. As for the long term wise, KLCI is trading at long-term average of 16x. Given the growth estimates of 6.1% for 2022 with corresponding earnings growth. It is a matter of time when the spread between current sentiment and expectation spread to be narrow. Thus, the current attractive undervalued spread is definitely a good time to get in the boat.

add me

today GUH Holdings is on power mode..;)

The market on Wednesday closed with only 4.487B volume. Despite the KLCI index opened got pumped and closed at 1,600 resistance, the market are still not tradable for today for intraday purpose.

The Superstars yesterday were mostly not doing well. SCIB and WB gapped up in the morning and tested the resistance of 0.545 and then dropped all the way to support after facing a huge selling pressure.

The thin stocks and warrant theme such as ENRA, EITA and WAs were the target of Investment Bankers in the morning since they are thin enough and the weak market is favoring thin stocks... Both of them got pushed to resistance again for distribution and sell down to support for the sake of washing out those who are holding it at the high price.

On the other hand, Brahims got forced up all the way from 0.52 to 0.765 high within a short period of time. In my live voice call today, I have warned numerous time to not chase this stocks once it has went above 0.65 because I had forseen the Syndicate way of distribution with totally no mercy. The stocks slammed down on a straight line basis with not even a slight rebound from 0.76 to 0.52 in less than 20 minutes.

For Thursday, I will be monitoring SCIB theme, EITA, PN17 and pump and dump counters, followed by thin and dollar stocks. I will also watch Steel for potential breakout. I will update live if I see anything certain.

KTB
Resistance : 0.23, 0.24, 0.255, 0.275
Support : 0.215, 0.20

PN17 theme tried to go today after Brahim's effect.

XL-WA
Resistance : 0.25, 0.265 (strong resistance), 0.275, 0.295, 0.315, 0.33, 0.35
Support : 0.24, 0.225, 0.20, 0.18

GIIB-WA
Resistance : 0.045, 0.055, 0.065
Support : 0.04

Looks like a buy on dips to me, haven't go up yet despite mother is consolidating upwards today.

EITA
Resistance : 1.02, 1.05, 1.09 (Strong resistance), 1.13, 1.16, 1.20
Support : 1.00, 0.98, 0.965, 0.95

Historical high, resistance level are derived from psychological resistance.

Euro
Resistance : 0.705, 0.725, 0.745(Strong resistance), 0.765, 0.785, 0.80, 0.82, 0.84, 0.85
Support : 0.67, 0.655, 0.645

Some thoughts on steel sector as of current , due to China Energy Dual Control , steel production capacity drops thus affect the world steel market.

The mainland's demand for steel is still remaining great. Europe and the United States increase infrastructure development to contend with China. To keep it short and sweet , the general environment is still very positive for steel industry. However , not all steel companies will benefit here. Only those steel company that export will benefit in the long term.

Not a buy call and just for sharing purpose , but currently Im still holding hiaptek for at least RM1 , anyone have same thoughts?