technical rebound.... but beware cos dealers r actively selling... for the short term petron definitely bleak....dealers may try to lure unsuspecting investor...
PETRONM (Stopped Out @ RM6.47). Recall that we had previously issued a Trading Buy call on PETRONM back in 23-February, after the share price staged a technical breakout from its ‘Ascending Triangle’ chart pattern then. Unfortunately, the shares have undergone a tremendous sell-down (-24.8% since our issue date to RM5.35 yesterday) after they reported a rather disappointing earnings report card. All key momentum indicators (MACD, Stochastic and RSI) are trending south strongly to lend a hand on the bearish technical picture. As the share price has met our conservative stop-loss level of RM6.47, we are forced to stop out from the stock. Meanwhile, interested investors who are looking to accumulate on weakness should be aware of catching the falling knife at this juncture. Instead, they could look to enter at a more compelling level near the RM4.50-RM4.56 (S2) level. We strongly advise investors to look for a convincing technical rebound from the aforesaid support level before entering the stock.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
moneymoneycome
331 posts
Posted by moneymoneycome > 2016-03-01 16:50 | Report Abuse
stockmanmy,
Not in my dream but copied from the link below.
http://klse.i3investor.com/blogs/kenangaresearch/92283.jsp