CMSB

Sector: Construction

Analyzed on 19/09/2021

Follow up from our previous analysis, CMSB has failed to hold above its EMA25/50 with a large red candle (-7%) on last Friday to close at day low of RM1.22. It was at the verge of a EMA25/50 golden cross. The drop could be due to announcement on Wednesday (15 Sep) that EPF has ceased to be a substantial shareholder after disposing 1.8mil shares on 10 Sep.

As the pull back is quite substantial, short term traders are advised to be cautious and monitor closely to validate if the recent breakout is just short lived and has ended.  

Reason to monitor: Fail to hold above EMA25/50

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NOTT INVEST 

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