Morning ... it is a rest-blogging time. Last friday, the selldown was in banking : AMBank, MayBank, RHBank.
AmBank : The defence at RM4 needs to be maintained. Be alert.
Testing current resistance are : RHBank and CIMB
RHB : Weekly chart
CIMB : Weekly chart
Financial Index showing crossover in stochastic at 80-level again ... for the third time. Range-bound with bearish-biasedness ... be alert.
Finance-index ... can see the highlighted crossover? If you understand what it means ... what should we be doing?
Why looking at financial-stocks?
Yes ... the nagging DB ... potential of collapsing due to their risk exposure in the derivatives-trades. Do read about that as it spelt RISK in financial-stocks ... and generally, financial markets.
For the whole Sept ... I m very reluctant to take any trades as the risk of losing is HIGH.
Perhaps the German-gov would bail them out ... "too huge to fail" kinda statement.
"Germany, which has insisted Italy and others accept tough conditions in tackling their problem lenders, can ill afford to be seen to go soft on its flagship bank, the Frankfurter Allgemeine wrote."
Nice domino-effect ... we saw Brexit. Grexit next?
Standard Chartered (02888.hk) traded in HKSE ... down by some 62% as of this week, from the peak. WHAT do you think?
Charts don't lie ... they said. THINK.
Have a nice holiday.