TDM is trading at its support of 0.94. It is important to monitor the price volume action near this 0.94 level to determine whether this support level will hold.
Technically, it is not looking good for TDM as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. This is further compounded by the recent bearish breakout of the support level of 0.905. If a bearish breakout is accompanied by high volume, this indicates the unwillingness of a large pool of traders to hold on to the stock as selling pressure mounts at the support level. This bearish breakout of TDM was accompanied by a lower than average volume which may give a glimmer of hope, however one has to be monitor carefully the price action in the coming sessions.
Weak RM will not help... when US tapering set in, RM is going even lower... So foreign investor will be selling big time since RM is going down and down...There is a speculation that RM will go lower than 4 RM per US... so sad... due to Malaysia debt is over 700 billion.. and going worse...so sad..
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heavyth
848 posts
Posted by heavyth > 2013-12-23 20:58 | Report Abuse
Will it hold at 0.94 ???