Friday, July 31, 2015

Maxis-Downtrend stock, exception of bullish market in Malaysia

MAXIS one of the biggest telecom company in Malaysia suffered from a downturn in share price since May. Our ART Supertrend system suggests there is a change of trend from bullish to bearish at beginning of May, it was indicated in orange bar. Since the first orange bar, price has fallen as much as 12%.

Furthermore, Smart Money Index (Graph at the bottom) assists in identify flow of fund whether is from Banker (Blue bar at bottom) or Retail buyer (Green bar at top). Bankers are commonly known as market mover, they consistently support the price, the share price is not sustainable when Banker Fund withdrawn in April. The trend remain weak unless we see the candlestick close above RM$6.65