Follow Us For The Latest Updates

Follow Us For The Latest Updates

Bloodbath yesterday do we have any signals?

Out of 6 counters, there are only 2 being triggered. ELSOFT in the first session and PCHEM during the last 30 minutes were flashed in our M+ Wiz. However, today we have a whole set of new components (8 of them) in our list
Get Wiz

M+ Wiz – Bloodbath yesterday do we have any signals?

M+ Wiz is designed to take any important breakouts or dips in the market. However, if the condition is not favourable then it will not prompt us any opportunities to enter. 

Just to recap, Bursa Exchange was affected by the political developments recently and spooked by the speculation on the State of Emergency to be declared over the weekend. On this matter, Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah has announced that there is no need to enforce a state of emergency in any part of the country. Although it has appeased the market’s emotion at that moment, the political developments continue to cloud the market tone on Monday.

We noticed the bloodbath expedited by increasing selling pressure as soon as the market opened on Monday, resulting in a big hit in traders portfolio. Market breadth was negative throughout the day until some reprieve buying support on the last minute trading activities.

What was triggered in our M+ Wiz list yesterday? 

Out of 6 counters, there are only 2 being triggered. ELSOFT in the first session and PCHEM during the last 30 minutes were flashed in our M+ Wiz. However, today we have a whole set of new components (8 of them) in our list and it has triggered us several good entries for those stocks. 

We have to say we are pretty happy with it has triggered us mechanically since 9am in the morning. We have POHUAT, MGRC, LCTITAN, GOODWAY and BOILERM being flashed in our alerts sidebar today. 

So we will post some of the examples in this blog post for your reference. 

BOILERM – Triggered on the breakout move around 68sen

Source: M+ Wiz

MGRC – Breaking above RM0.585 and signalled us an entry

Source: M+ Wiz

POHUAT – Gapped up around RM1.83 and standing above this range for now

Source: M+ Wiz

These are some of the signals on our M+ Wiz side alert. We encourage you to try out the M+ Wiz Lite to get a feel of what the M+ Wiz Pro could potentially assist you in the future. Till then, stay safe and stay rational in the market by using M+ Wiz.  

We would like to emphasize that the examples above are not a recommendation for buying and selling purposes, please take advice from your brokers to get a clearer picture of the market before making any important decisions in the market. 

M+ Wiz – tool to embrace the winter. 

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on telegram

More Posts

SLP Resources Bhd – 25th Feb 21

Moving in FY21f, we believe that sales from the local market will continue to take charge (>50%), after raking 53.3% of total revenue in FY20 as oppose to only 39.0% recorded in FY19. For now, SLP will focus on ramping up the production of kitchen and garbage bag, targeting 25% of production output in FY21f (from less than 20% recorded in FY20).

Econpile Holdings Bhd – 25th Feb 21

As of 2QFY21, Econpile’s is equipped with an unbilled construction orderbook of approximately RM930.0m from 23 on-going projects. Moving forward, the group’s unbilled orderbook-to-cover ratio at 2.3x against FY20 revenue of RM403.0m will provide earnings visibility over the next three years.

market pulse

Rebound in sight

Selling pressure in the glove counters persisted, pushing the FBM KLCI into the negative territory in the afternoon trading session. Whilst the National Covid-19 Immunisation Programme kickoff did not boost the local bourse yesterday, we opine some bargain hunting activities to arise in lower liners after close to 1,000 counters closing in the red. Meanwhile, the Brent oil price continues to climb above USD67.

market pulse

Bargain hunting may take shape

In contrast with the regional gains, the FBM KLCI failed to sustain its intraday gains as the key index slipped into negative territory during the final trading hour. We expect the arrival of the second batch of Pfizer-BioNTech vaccine today and the vaccine distribution to different states will continue to attract buying interest in recovery-theme stocks moving forward. Meanwhile, crude oil price continued to remain firm above the USD65 level for the time being. Also, traders will focus on high earnings certainty sectors during this reporting season.

bloodbath-yesterday-do-we-have-any-signals-m-online