I've not been buying shares from Bursa Malaysia for more than a month until I spotted a trade set-up on MUHIBBAH that was too hard to resist on 16 Jun 10.
MUHIBBAH weekly chart 25 Jun 10
On weekly chart, I spotted a potential double bullish divergence between price and MACD - price making lower lows but MACD tracing higher lows. This is a positive sign.
MUHIBBAH daily chart 25 Jun 10
On 16 Jun 10, the MACD line was rising and above its signal line on the daily chart.
On Bursa news, I noticed EPF bought MUHIBBAH shares from the open market on 3 and 4 Jun 10. It looks like there were fundamental and technical reasons to buy MUHIBBAH.
I bought MUHIBBAH shares at 89.5 sen on 17 Jun 10. My stop-loss will be below 26 May 10 low at 83 sen and my initial target is 8 Apr 10 high at RM1.14. Let's see how the trade unfold.
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
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