I have more work to be done before I could check on many things about market - I missed almost the whole week of actions as I was very busy and was not feeling too well too.
Tenaga : Looking at 8.40 could be a nice entry price. It touched 8.43, with RSI 34 at the moment. I do believe a report that I read that Tenaga will be used to pusk KLCI higher when election nearing. WIth that speculated news, it is safe to buy Tenaga at current support level.
CIMB : At 8.20 will be nice, supported at 100MA. I am still wondering about the HUGE selling volumes yesterday, some funds selling which I have not checked on it. RSI at 36 currently, closed at 8.34. The huge long black candle-stick showing the intensed selling. So, we wait at 8.20 level, with RSI moving to 30 level. Thai-CIMB just reported good profits and seeking to be listed there. Also, election in mind ... Najib will instruct some funds to buy this BEST bank in Malaysia and perhaps in region soon.
CIMB and Tenaga
At the current rate I am going, I really need to change some strategies. I need to buy those I could hold on too. From the current list, I like CIMB now. Yes, I still admit I like(or love?) Tenaga ... stalking her. These two big-babes could be use to support market and moving into election rally.
So, yes ... Tenaga is a buy to me, so one of my more conservative student, YH, will be buying her soon. I will push her a little to buy it next week. Ignoring the broker's reports, please. This is for buy-n-hold till it recovers and it will. By the value, its PE around 10, the cheapest blue-chip in town.
I will do some homework on CIMB-cw, anticipating its rebound. And I believe it will ...