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Winds Of Change. A storm that is brewing round the corner or just ripples before calamity returns to the stock market?
 
Malaysia

Supermx
 

Supermx, one of the rubber-related stocks had been skyrocketing in the past one month and it was one the best performing stock that outshined the general market. However based on its recent price action, Supermx may see further downside pressure in the coming weeks. The MACD trend indicator hasstarted to trend downward and a bearish crossover signal was seen in the Stochastic oscillator. Thus observations from these indicators suggest that downside momentum is building up. A violation below its immediate support at RM4.80 may trigger a further slide towards the next stronger support at RM4.10. However a break above the immediate resistance at RM5.35 may negate the bearish tone to see a short-term bounce towards the next resistance at RM5.75.

 
 
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