Monday, June 27, 2016
Alert : SKPetrol
SKPetrol : Broken important support of RM1.35, at 1.31 ... low RM1.29 at the moment. That is new low level. More to come ...
Selling should be on Friday when black candle seen. Making that decision could get us out. But, if one is holding SKPetrol at RM3 ... or RM2.50 ... or RM2 ... I could understand how difficult it is to clear/cutloss.
What should we be doing if we are stuck up there?
Will SKPetrol taken out from composite-index?
What is going on with SKPetrol ... besides the low price of oil?
Seadrill exiting ... is that the main factor? Factored in?
These are in our retailers mind ... speculative ... and full with hope ... hope that oil will recover further and SKPetrol could be back to our cost-price.
There are many times ... I was in that position ... very uncomfortable and stressful, indeed. But, I have learnt to cut-loss and move on. Not everyone could take the pain ... and motivated to
Will check her by end of week. Just be aware that technically, it is bad. And no one could tell where the bottom is now