Four similar price actions – Dayang, Carimin, Naim and Perdana

Carimin
Naim
Perdana

These four stocks show similar price action since the beginning of the year 2019. They rallied in early 2019 then dropped together in May 2019 after the consolidation. On 30th May, these stocks started to gain again.

Many of the trading friends asked me about the next possible price movement. My suggestion to them is to avoid these stocks. I do not recommend hot stocks, especially after the consolidation followed by weak candlesticks. Although the stocks rallied in June, the daily price actions showed weakness with low volume in July which indicated the lack of follow-through. There is no sign of strength to enter these trades. Trade safely and keep monitoring.

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Author: Gerald Koh