Telekom Malaysia Bhd - Potential Rally?

Telekom Malaysia Bhd (TM) is one of the Bursa Malaysia's blue chip stocks battered during the current market downturn. TM has a good dividend payout track record as can be seen from the table below. It is still the leading nationwide provider of telecommunication services in Malaysia.

TM closed at 2.36 last Friday (9th Nov 2018).  Early in the year, TM was trading at above 6.00 before it nosedived in late Feb. Is TM now under valued? Let's look at its price chart to find out.                                                              

Weekly chart shows TM made a lower low but MACD made a potential higher low setting up a potential bullish divergence. This suggests a rally is likely. A bullish piercing candlestick pattern further support that. I expect TM to move up and test at least its last swing low at 3.11.


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.