Recently attended a Technical Analysis seminar. I am trying to simplify my approach towards technical analysis.

For my first posting for the month of February 2019 (a day before the start of the new lunar year), I will take a look at some examples of stock charts of Malaysian stocks in this posting.

FBMKLCI

  • Still below 200D SMA, although the index has traded above its short term EMAs
  • MACD appears to support a bullish trajectory
  • ADX is below 20 – range bound, no strong trend
  • RSI < 50 ; not bullish
  • Conclusion: Personally, I will turn bullish if the index trades above its 200D SMA. Otherwise, stay bearish.

FBMKLCI

MNRB

  • MNRB is well-supported by its short term EMAs, heading towards 200D resistance line
  • MACD appears to support a bullish trajectory
  • ADX is below 20 – range bound, no strong trend
  • RSI > 70 ; bullish
  • Conclusion: Personally, there may be some room for this stock to move upward. Possibly mean the bottom has been reached?

MNRB 03022019.jpeg

BTOTO

  • MNRB is well-supported by its short term EMAs, heading towards 200D resistance line
  • MACD appears to support a bullish trajectory (no divergence seen, higher high, higher low)
  • Possibly upward trend (though ADX is <20) : +DI>ADX>-DI
  • RSI is generally positive (>50)
  • Conclusion: 200D SMA may be the key resistance to watch for. If it breaks 200D SMA, potential uptrend may develop.

BTOTO03022019.jpeg

SUPERLON

  • Share rice > Short Term EMAs > Long Term 200D MA (signal for bull trend?)
  • No divergence in MACD, higher high, higher low
  • +DI>ADX>-DI (ADX ~25, supporting a positive trend)
  • RSI > 50 (bullish)
  • Conclusion: Possibly developing uptrend, again depends on key resistance zones

Superlon 03022019

LITRAK

  • Share price > ST EMAs, looking to break the 200D SMA (positive trend?)
  • Potential reversals seen in MACD and RSI (falling below 70, but still above 50)
  • ADX looking range bound (<20), no clear uptrend
  • Conclusion: To have a clear uptrend, share price + ST EMAs stay above the 200D SMA, with +DI>ADX (>20) > -DI

LITRAK 03022019.jpeg

MMSV

  • Share price has not been able to maintain above the ST EMAs
  • RSI < 50 (doesn’t appear to be bullish)
  • -DI>+DI>ADX (doesn’t appear to be bullish)
  • MACD – showing signs of reversal
  • Conclusion: No strong indication of a bullish uptrend

MMSV03022019.jpeg

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