Wednesday, May 04, 2016

Stock Watch : BAT-man


First time trading BAT ... as RSI dived to 15 yesterday. Rebounded today.



BAT : bought yesterday and opening at RM43 today ... sold along the way up with last portion at RM47. It rebounded too strongly for my liking. RSI was 15 yesterday ... allowing me to enter but now at 33.3. Well, the immediate resistance at RM49.50 (10MA) ...

3 4
RSI RSI
KLCI 26.2 30.3
1 Ambank 44.6 50.3
2 Astro 31.5 38.4
3 Axiata 35.0 33.5
4 BAT 15.7 33.3
5 CIMB 37.4 46.2
6 Digi 21.2 20.7
7 GenM 46.4 53.8
8 Genting 37.0 36.7
9 HLBank 37.7 48.1
10 HLFG 49.2 48.7
11 IHH 28.2 46.2
12 IOICorp 37.1 36.2
13 KLCC 60.6 54.3
14 KLK 34.5 31.0
15 Maxis 19.8 20.9
16 Maybank 33.8 40.0
17 MISC 26.7 27.7
18 PBBank 34.2 51.2
19 PChem 42.3 38.6
20 PetDag 43.9 39.7
21 PetGas 46.9 46.2
22 PPB 41.2 39.1
23 RHBCap 49.7 46.6
24 Sime 37.5 44.0
25 SKPetrol 29.7 26.5
26 Tenaga 44.9 44.9
27 TM 57.2 47.6
28 UMW 37.1 36.4
29 WPRTS 54.7 55.6
30 YTL 37.5 40.3
 

Yesterday ... we have 6 oversold stocks ... today, with BAT and IHH rebounded ... we are left with only 4 oversold stocks. KLCI also rebounded ... but I do not see it sustainable and still prefer to keep cash ... shop again when KLCI's RSI below 25

SKPetrol : Dropping further ... exiting of Seadrill news.

So ... I am left with Digi, Maxis and Misc. KLK dropping too. PPB formed a hammer ... hmm ... shop for?

Note : Focusing into my blue-chip funds will be a good idea ... buy only when it is oversold.

TEH

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