Thursday, September 30, 2010

Supermx - Catching the falling knife ?


Take a look of above, SUPERMX, just like a waterfall. Did you catch this falling dagger recently ? Right from RM6.60 to now RM3.79. What a drop !! Almost RM2 just disappear in about 2 months time. Take years to climb but take months to drop. How scary is stock market!! The higher it go the harder it fall.

SUPERMX is very much in oversold position but how much more can it drop? nobody knows. I believe many punter waiting for an opportunity to capture the rebound but by how much it will bounce back. I don't know either. Seem like the selling is still persistent. Fundamentally still intact but better stay aside till the dust settle before touching it.

SUPERMX may suffer some set back due to strong ringgit as this diminishing its profit and the lower demand may dampen the coming revenue as H1N1 is almost become a norm to majority.

3 comments:

CP said...

Hi

I dont know either but my queue at 3.75 was done this morning. Technical rebound is a sell, as the downturn may continues.

Wish me luck for catching this knife - yes, it is a beautiful waterfall to me ... look at its historical low RSI at the moment. Nice.

TEH

horse said...

congrat CP,
u got in the right time. :)

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