Bursa Malaysia Stock Watch
MULPHA - CIMB Retail Research: Sell Mulpha Intl into strength
kltrader
Publish date: Fri, 06 Aug 2010, 12:52 PM
kltrader
0 20,412
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Stock Name: MULPHA
Company Name: MULPHA INTERNATIONAL BHD
Research House: CIMB
KUALA LUMPUR: CIMB Retail Research said Mulpha International is still trapped in a declining channel.
In its technical outlook issued on Friday, Aug 6, it said in the past three attempts, prices failed to inch above the resistance trend line and it thinks it will be indifferent this time around.
'Currently, the candles are just holding above its 30-day and 50-day SMAs but sustainability remains a concern,' it said.
MACD histogram bars are beginning to lose pace while its RSI has also hooked down from the overbought territory. These do not bode well for any recovery effort.
'Sell into strength looks like the best option here. Unless prices can inch above the April high of 52.5 sen, we would prefer to stick with the bears' camp. Next downside targets are 40 sen and 35 sen,' it said.
Company Name: MULPHA INTERNATIONAL BHD
Research House: CIMB
KUALA LUMPUR: CIMB Retail Research said Mulpha International is still trapped in a declining channel.
In its technical outlook issued on Friday, Aug 6, it said in the past three attempts, prices failed to inch above the resistance trend line and it thinks it will be indifferent this time around.
'Currently, the candles are just holding above its 30-day and 50-day SMAs but sustainability remains a concern,' it said.
MACD histogram bars are beginning to lose pace while its RSI has also hooked down from the overbought territory. These do not bode well for any recovery effort.
'Sell into strength looks like the best option here. Unless prices can inch above the April high of 52.5 sen, we would prefer to stick with the bears' camp. Next downside targets are 40 sen and 35 sen,' it said.
More articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
1
2
Good Articles to Share
3
M+ Online Research Articles
4
5
MQ Market Updates
6
THE INVESTMENT APPROACH OF CALVIN TAN
7
BFM Podcast
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
