Follow Us For The Latest Updates

Follow Us For The Latest Updates

M+ Wiz – One of the quiet days where retailer participation is declining

Get Wiz

On Bursa Malaysia, we noticed that the drop of daily trading value below the RM3bn mark, suggesting that most of the retailers are back at work and the hype in the market is normalised for now. 

Here are some of the charts to show you the broader market direction to set as your reference in your stock selection process. In our view, we believe that the short term movements are likely to be in a consolidation phase; getting the market right will be as good as finding a needle in the sea.

FBM KLCI – Pulled back from the recent high but short term still consolidating

Source: M+ Wiz

FBM Small Cap – Forming lower high and likely to retrace lower in the near term

Source: M+ Wiz

FBM ACE – Overbought and uptrend could be near the tail end (overbought)

Source: M+ Wiz

Based on the 3 charts above, FBM KLCI and FBM Small Cap are turning lower, but FBM ACE is still in the uptrend mode. This might reduce the chances of getting a stock right in the near term as the trend is in consolidation phase;  chances of making money will be less in the near future based on the charts above. 

Given the setup above, how would one be able to still consistently make the most out of the day? We have a little suggestion, M+ Wiz is one of the choices in town to potentially pick a right stock in the market. 

Coming back to the market on Friday (26Jun), on this quiet trading day, our system with our daily hand picked counters, it has alerted us with two counters for the day at least; REVENUE and SDS

Traderlist picks – only two came out (REVENUE – 4:08PM and SDS – 9:00AM)

Source: M+ Wiz

According to the time that M+ Wiz has alerted us, share prices for both the stocks managed to gain traction and traders’ attention at least for the next few hours. 

Example 1: SDS 

Source: M+ Wiz

SDS managed to start at RM0.20 and rallied towards RM0.235 and closed at RM0.23 for the session, which is a decent gain of 15% in the session.

Example 2: REVENUE 

Source: M+ Wiz

Meanwhile, REVENUE came in at 4:08PM and it showed up in our list, this was traded at RM1.22 and closed at the same price at the end of the session. Overall, it didn’t make a strong move (yet), and we shall look out for any follow through buying interest on Monday. Nevertheless, the stock is currently holding well above SMA50 and SMA200, suggesting that the uptrend intact position for the stock and potential run in the future. 

Again, we would highlight that the previous track record is not a replica for future gains. We are not here to suggest to you a BUY or a SELL recommendation. The objective of the blog post is to highlight to you, the key to mitigate emotion and listen to the heart beat of M+ Wiz. Let the system show you the way 

Trade without emotions and trade with confidence. Cheers !

Share:

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

More Posts

market pulse

Market momentum still sturdy

The FBM KLCI edged mildly lower as sentiment turned downbeat as investors booked in gains from the previous session rally. While the local bourse is demonstrating some mild weakness, we reckon that the general recovery trend is still intact as the attention remains focus on the pace of economic recovery. The positive development over the Covid-19 vaccine will also continue to aid the recovery progress. Meanwhile, the lower liners are expected to charge higher, driven by the ample liquidity with the equities market remain in favour.

AME Elite Consortium Bhd – 2nd Dec 20

The proposed AME REIT would also provide stable and recurring income to investors, with at least 90.0% of its income to be distributed as dividends to unitholders. We note that slightly more than half of the current tenants of the industrial properties has more than 5 years of lease under their agreements. Additionally, AME REIT is expected to benefit from lower tax rate compared to prevailing corporate tax rate at an average of 23.4% recorded over the past 4 years.

technical focus

Technical Focus – 2nd Dec 20

Established historical track record since inception in 1975 with strong brand presence in the Malaysia household market. Demand will be relatively healthy, owing to the rising awareness of personal hygiene following the Covid-19 pandemic. Disposal of loss-making toilet rolls and tissue manufacturing subsidiary; NTMP Paper Mill (Bentong) Sdn Bhd allow the group to streamline and focus on the existing core businesses. Technically, price has experienced a flag-formation breakout above RM0.73, targeting the next resistances at RM0.795-0.815 with long term target at RM0.90.

market pulse

Swift recovery

Expectedly, the FBM KLCI performed a swift recovery as the key index recouped most of its previous session losses to re-claim the 1,600 psychological level. We reckon some stability will ensue with further upsides are in the cards as investors continue to focus on the economic recovery progress. Meanwhile, we believe that the lower liners will continue to enjoy their upward momentum as liquidity remains well on the equities market with investors capitalising on the positive market sentiment.

m-wiz-one-of-the-quiet-days-where-retailer-participation-is-declining-m-online