Tuesday, March 27, 2018
A green day?
After selldown last week Thu and Friday, last night DOW up 670 points and we shall see many to rebound today ... and green again!!
These up-down in large magnitude will continue in US ... but perhaps not much in KLSE. Many stocks still experiencing selldown and going lower ...
A bad QR ... gap down 20% in Jaycorp ... see why we need to avoid some sectors? Furniture-wood sector has been bearish since I sold them off in end-Dec 2015. It has been two years I didn't check on FLBHD and gang ...
FLBHD is at support RM1.10 level ... might rebound from current support ... but should continue to drift lower ...
This is the weekly chart of BAT ... stocks do not dive vertically down, most of them (unless those pump-dump). As it is going lower ... to below RM30 now, it did rebound ... and only to see the dead-cat bounce ... and went lower.
It is very difficult to buy on down-trending as we do not know the low ... and we have to cut-loss in case the support broken (again).
Will write later. Have a green day.