Dow Jones future is actually positive +589, 2.79%.

So today's closing price 1.04 < SMA 200 = 1.064.
A downtrend is confirmed.

If you are still holding stock, any technical rebound is good opportunity to sell.
During a downtrend, it will still up/down, thru & forte but it will gradually close lower low until a trend reversal.

SMA 3 = 1.09
SMA 5 = 1.094

Once SMA 3 & SMA 5 crossover SMA 200, expect will see a more significant price drop, now the delta is only 0.026 & 0.03.

@ ahbah, agreed.

Price will still up & down as no matter big fish or small fish, we all want to buy low sell high. Price will not up everyday but it gradually trend up in this period due to outbreak.

Support level will be 1.5x during correction and once correction done, will be another surge.

So collect low during correction.

So if retailers chase high when see "rebound" in the afternoon, big fish is more then happy to sell, transfer the burden to retailers. They will slowly sell to avoid price is dropping back too fast as they also want to sell at high price.

It is not only Supermx rebound, my observation is most of the counters "rebound" after 2:30pm.
This is for big fish to release existing stock as many of them also holding high price with suddenly this week trapped with oil price dropped, DJ dropped, outbreak spreading worldwide...

So the deep drop in the morning is for big fish to collect low when people fear, while 2:30pm onward "rebound" is for them to release existing stocks that holding at high price.

Many counters closing will still lower then yesterday after big fish release existing stocks before closing.

@F1Trade, good TP but may not be realistic during the period of outbreak. Glove is in NEED globally. When Demand > Supply => Price up.

It will have fluctuation up & down from time to time between 1.5x to 1.8x, but it is an uptrend after the golden crossover by Mar 4th.

@ i3lurker, Paktua ever demonstrated how push up Airasia price from 1.1x to 1.2x last month to break-even, don't underestimate the resources of his team.

Now without his team, Airasia traded at 0.81, lowest 0.79 today.

TA golden rule : When price broken below SMA 200, confidence level broken as well and price will free fall like what it happened this week.

Do not blame others, learn how to read the chart and MMA.
We don't buy & sell stock based on others' comment, it is good to have such positive news, analysis, calculations, comments during uptrend to expedite the price moving up so that we can sell high to make profits like what it happened Nov - Feb for 4 x consecutive months.

During downtrend, learn how to safe yourself to sell timely before being trapped instead of affected by any others positive comments when price already moving towards SMA 200.

@ Boon Keng,

Trump wont let DJ down every day, it impacted his election this year.

For Bursa, it may follow DJ but glove is different, it is a NEED in this period of time during outbreak, it not really have a close linkage with Bursa up or down, but depends on how critical is the outbreak. When people fear, Glove is to safe their life.

Based on the chart, Supermx may have a more further growth potential in term of price after today's correction and perhaps next few days.

There was a golden crossover by Mar 4th SMA 50 > SMA 200, it is a bull signal (now majority of the stocks are in reverse way SMA 200 > SMA 50 in bearish mode). After the golden crossover, price rally from 1.59 (lowest) to 1.86 highest yesterday.

After the correction, the next golden crossover will be SMA 90 with SMA 200, that will be another surge in price when it happen within short term.

First support level : SMA 50 currently 1.59 (vs. today lowest touch 1.58)

Second support level : SMA 200 currently 1.552.

Third support level : SMA 90 currently 1.508

Most likely the correction will be around 1.5x then rebound.
So stay positively, not many stock in Bursa today still can have a golden crossover (most stock are at death cross this month, refer to Jaks).

However, the risk will be if the correction is overdone and closing price reach 1.4x, then the current uptrend may face a challenge.

stocknewbie, Maybank Investment Bank's mobile software.

SMA 3 = 1.077
SMA 5 = 1.086
SMA 200 = 1.064.

Once SMA 3 & 5 crossover with SMA 200 within short term, a more significant drop is expected.

Jaks' SMA 3 & 5 crossover with SMA 200 (at 1.02) yesterday, today drop to lowest 0.69.

Jaks and Revenue having same price last month.

US already declared the bull market is over and it is a beginning of bear market.

Dow Jones current index equivalent to May 2017's level, closed to 3 years low.

@ super_newbie,

do not buy and hold a stock that is in downtrend.
buy only when it reach bottom and reverse to uptrend.

need patience, no rush, the stock will wait for you at the bottom, it wont overnight rebound to 0.475.

@ truesight1122,

ya, today's lowest 0.11, in fact it is only one step to go.
It will reach < 0.1 earlier then my original estimation (I estimated within 2 months, now seems like within March will reach, my apology).

there is really no rush to buy during super-downtrend.
the stock will wait for everyone at the bottom, it is just a matter of whether have enough bullet to buy when it reach target price of 7 cents.

@ JN88, every trade short sell by IDSS, it will be recorded and able to view from some of the trading software for the accum. qty and accum. value.

now accum. 548200 units at RM 896k+, average price RM 1.634.

early morning they short sell at 1.67, then block 1.61 with big volume intend to push down the price to below 1.6 so that can buy back at 1.5x. however seems like the demand for 1.61 is high and consume their short sell volume at 1.61.

end up short seller' price average now at 1.634 from early morning it was 1.67.

IDSS mainly attacked Harta and Top Glove today, inactive for Supermx.

@ paktua73, yes, after 4pm, there will be Black Friday Big Sales coming.

@ Tiger66, yes you got right.
Just reference to 2018 Mar to Dec. It is a long journey by months to reverse to uptrend, not by hours.

@ mf, ya remind me today is 13th Black Friday, no wonder stocks on promotion.

@ LA777, ya, I do the same, holding zero Jaks. There is really no point to rush to buy during a super-downtrend. It wont overnight rebound to 1.57, just wait for downtrend ended, it may take days, weeks or months, not by hours.

@ JazzzLee, you got right. Do not catch a falling knife. The price will wait for you, no rush.

@ LA777, I only reference to 2018's price, that was the price in drop to during super-downtrend. The price itself is innocent, no BAD or GOOD price, it is neutral.

IDSS only short sell RM 1.53 mil at 0.77 average.
Not much, many sell by fear.

Target Price : 0.405

0.69 now.
0.5x is not far away.
Lets dream BIG at 0.4x.

IDSS so far only short sell 256200 units at 1.675 average.
compare to yesterday considered inactive.

it is a golden time to witness whether 0.4x is an achievable target.

0.71 now, 0.6x just one step away.

moving towards 0.6x.

Let dream BIG for 0.4x.

the golden rule during super-downtrend and bear market : Do not catch the falling knife.

stock will wait for you to buy, it will not rebound immediate by hour or by day.

@ Aseng,

The downtrend have not yet end.
The golden cross will only happen when downtrend ended with short term MMA start to reverse.

It may take days, weeks all months.

If you refer to 2018 downtrend, it started by Feb 2018, ended by Dec 2018.
The first golden crossover for uptrend is March 2019.
It took one year to reverse the trend.

If you got nothing to do but sitting with cash, invest in Glove.
Glove is having correction today and perhaps next few days but it is still on uptrend, which will be a good investment in this period of time during outbreak.

I hold ZERO Jaks stock, just want to witness the downtrend and analysis the linkage with TA MMAs movement, no other intention and no conflict of interest.
Will only back buy when observed golden cross, will share with you when it appear.

Patience, Discipline, Free capital available is the key to make profit.

@ monetary, yes, you got it right. Just monitor the trend, you will see the crossing point and that will be the buying point.

The purpose we buy, we want to see the value increase overtime, not depreciate and try to average down.

Now is too early to tell when is the buying point as downtrend have not yet end.

guys, dunt get emotion, trade happily and just relax.

I only sit back, enjoy a cup of coffee to watch the waterfall and wait for it dry up.

@ Aseng, I think you misinterpret my intention to share and please calm down.
I will only buy back when the downtrend ended, at the point the short term MMA crossover long term MMA, that is the TA rule. It will not be by hour or day, it need patient to wait during a super downtrend.

@ monetary, nobody know and nobody can answer.
need to patiently wait for the downtrend ended, monitor the short term SMA crossover back long term SMA. The crossover point will be the buying point before it rally.

Definition :
The golden cross is a technical chart pattern indicating the potential for a major rally. The golden cross appears on a chart when a stock's short-term moving average crosses above its long-term moving average.

@ Windy1974, good. I sold ALL as well last month.
The point I want to share is for safe trade, buy back at the point of Golden Cross instead of during free fall.

you just do a simple calculation :

If you sold 100 lot at 1.45 last month for Revenue.
Today if you buy back at 0.98, you can buy back 147 lots using the same fund you sold last month.

However, during a free fall, if you buy 100 lots today, it may end up the 100 lots value depreciated by another 20%.

Conclusion we only buy at the point of Golden Cross, not during free fall.

guys, take note of the important rules when SMA 200 broken :

DO NOT catch the falling knife.
Let it free fall and we only buy when there is a clear reversal at the point of Golden Cross.

If you still have doubt, refer to Jaks now at 0.745.
Jaks and Revenue use to be same price last month.
Same operator manage Jaks and Revenue.

@Windy1974, it is 0.745 now. Moving toward 0.6x.
Do not catch a falling knife.

Refer to year 2018 Mar to Dec trend.

@Henry8833, 0.755 now

You may refer to Jaks : It was at highest 1.57 last month, this week SMA 200 1.02 broken, today free fall to 0.76.

If a person sold 100 lots last month at 1.57, today can buy back 206 lots at 0.76.

@ Trouble Huat,

That is the TA rule.
SMA 200 is the important support. Once it broken, the confidence level broken as well.

There will be still thru & forte fluctuation, however once ppl's fear arise and confidence gone, it will be free fall.

When price free fall, do not rush in to buy, you will run out of capital to do average down.
Patiently wait for a reversal to uptrend (during a golden cross), then only enter. This is TA principle.

@ Mabel, your target price 0.8 met.
I need to lower my target price to 0.6 as the chart looks like still bottomless with no support.

@ Trouble Huat,

it shall some big guy do bottom fishing at RM 1.

@hng33, as I shared with you when you bought 0.9 yesterday, the worst is not yet over. No rush to buy during a super-downtrend, you will run out of capital.

Lets dream BIG for 0.4x

@ Trouble Huat,

That's why I indicated Dow Jones future for reference just in case some traders maybe too optimistic for the closing at 1.10.
The actual DJ opening drop is much more, at -1800, -7% ~ 8%.
Friday opening may impact by fear.

However, the same theory apply, it have no conflict for the two scenarios :

1) If opening still in green in-regard DJ in deep drop , still may technical rebound to test resistance although the chances are very low.
2) If closing in red and lower then 1.06 SMA 200, downtrend continue and prepare it will drop below RM 1 and free fall as SMA 200 broken. Take note that SMA 200 is an important confidence level for whether the price can hold & rebound. If SMA 200 broken by closing, the confidence lost & ppl will panic sell with no support. If you take a look for Jaks, you will understand. I have been constantly alert in Jaks forum that SMA 200 had been broken but being ignored, and it free fall from 1.02 to 0.865 today.

Again, do not buy & hold for a stock that's in downtrend, especially we are in a volatile global environments.

QR not yet release already 89 cents.
After Apr release operation result and May release Q1 report, 80 cents definitely not the bottom based on current chart and trend.

Adjust target to 75 cents.