I don't think so. Institutional traders / fund managers also look at currency, because it'll affect their revenue back in their own country if our currency is performing poorly. On top of that, political stability, economy of the particular country, etc.
So far I don't see much effort by the gov to draw overseas investors but the opposite, YES! Our PM is trying very hard to woo the B40s..
Just imagine, if you're a fund manager, will you prioritise other countries like Indo, Viet, India, Thai, SG or..... MY?
Which country gives you better political support? Besides, Msia's economy is not as attractive as Indo, India, Viet, Thai. Can you name me a few industry in Malaysia that performs better than our neighbours?
And... FFB is not very big in ARBDN's portfolio.
If you know how to read the FOMC projection materials, we expect FFR will reduce 80 basis points by 2024 "if" the upcoming CPI, PPI, PCE and jobs data is inline with what the feds want. Now is the best forking time for PM to draw investors since the FFR has peaked but I don't see much effort at all! Both manufacturing or services industry, nothing! Instead, he tries hard to make the B40 happy.
FFB is not a bad investment IMO, and there are still product launches coming up soon. I'm still holding my position and move up my stop-loss. I'm not saying FFB is bad or anything, just that we have to recognize the current situation. I'm getting tired and disappointed with Bursa and I'll be moving my funds slowly to US market. (Actually I'm actively trading in the US market for quite some time. I just feel much better to invest in US market than MY market. Here it's like a dead pond with few fishes.)
Anyway, don't be so anxious when the stock price fluctuates a little, it's all about forward looking. The chart doesn't lie. Look at the EMA20, it is trying to cross EMA200. Does that mean anything to you?
Eh jangan, I'm not pro, just have the opportunity to learn from a great trader and share my views.
Btw, the stock did pull back 1/3, now let's see if the momentum holds. If it does, I'd say it's a very healthy pull back and I expect the stock to continue to break higher than the recent high of 1.42.
The sentiment has changed over the past 200 days, now it's overall more positive-ish than before, I believe the stock shall hold and will continue to goes up gradually.
BUT, anything can happens in the stock market, who knows suddenly some big news come up and screw us again. After all, candle is just a reaction to the information given.
Please do not take this as a BUY advice, as I don't want to be responsible for anything unless you want to share me some of your profit :P
Actually still consider cheap if you factor in growing profit, more product launches. Stock is forward looking. But not enter immediately, can wait for a pullback, probably 1/3 of a pullback since the stock has rallied so much, a pullback is a good opportunity to enter.
If FFB management don't screw up on the new product launches, ride on the timing of boikot, I believe the market will reward them nicely.
Based on technical chart, the next significant resistance is around the 1.50 region.
BUT... Technical is just technical. The context now is different compared to before, with more exciting product launching in the pipeline such as ice cream and other dairy products, top with the boikot event (we don't know how long it'll last), higher margin, lower cost and regional expansion.
Let's see how FFB management team dance in the coming future. Hopefully they play their cards right
shiji93, a bad move. You're literally selling at the low side. Previous resistance was around 0.56 and now resistance broken becomes support. With positive catalyst and strong bullish candle now you sell near support lol