Overview:
Malayan Banking Berhad (Maybank), is engaged in the commercial banking and related financial services. The Company’s subsidiaries are principally engaged in the businesses of banking and finance, Islamic banking, investment banking, including stock broking, underwriting of general and life insurance, general and family takaful, trustee and nominee services, asset management and venture capital. Maybank operates in four segments: Community Financial Services (CFS), Global Wholesale Banking (GWB), Insurance, Takaful and Asset Management and International Banking. It has operations in Malaysia, Singapore, Indonesia, Philippines, Papua New Guinea, Brunei Darussalam, People’s Republic of China, Hong Kong SAR, Vietnam, United Kingdom, United States of America and Cambodia and Bahrain. In June 2014, Malayan Banking Bhd dissolved its indirect subsidiaries, MNI Holdings Berhad and Peram Ranum Berhad.
Reason & Strategy:
1) Trendline - 20MA breakout at RM 8.83
2) Volume: High
3) MACD: Red (Negative>Bearish)
4) Smoothed RSI : At 36.6%.
5)Support/Resistance: Supported at RM 8.27. Resistance at RM 8.83
6) Beta: 0.90
7) Candlestick: Bearish
8) Pattern: Price Volume Divergence
1) Trendline - 20MA breakout at RM 8.83
2) Volume: High
3) MACD: Red (Negative>Bearish)
4) Smoothed RSI : At 36.6%.
5)Support/Resistance: Supported at RM 8.27. Resistance at RM 8.83
6) Beta: 0.90
7) Candlestick: Bearish
8) Pattern: Price Volume Divergence
Trading Plan 1:
Entry: RM 8.50 or higher
Profit: RM 8.83
Cut loss: RM 8.40
RRR (Risk to Reward Ratio)> 1 : 3
Bought: RM 8.53
Scenarios Analysis:
1) 1MDB issue in play
Big loss of 2015
Fail to cut as foreign fund keep selling to RM 8.40 and below:
Maybank very volatile in KLCI, swinging range from RM 8.45 to RM 8.65. Catch at resistance, cut loss if drop more than RM 8.40 and sell at RM 8.65 for short term profit.
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