Weekly Stocks Review: Jaks, Airasia, Sapnrg, Ifcamsc, Mflour

Disclaimer: The information on the website does not constitute a buy or sell call. You are responsible for your own action.

The purpose of creating this blog is to share the techniques of technical analysis to retailers. I have been very careful in selecting stock for my post to avoid readers misinterpret that I’m recommending “good stocks” to buy. Here, I reiterate that this blog is NOT a stocks recommendation blog; it is purely just a stock technical analysis sharing. I give credit to Eugene Kua for the comment on my Facebook post on 8th November. It prompted me to reconsider the title of “Weekly Hot Stocks” which sounds like I’m recommending stocks to readers. Therefore, I replaced the title with “Weekly Stocks Review”.  If you have a better idea for my weekly stocks review, please let me know by providing comments on the Facebook post or private message. Thanks in advance.

Jaks penetrated RM1.13 support on 8th November as mentioned on the previous weekly stocks review post. Then, the rally takes a breather for the next three trading days with low volume and it rallied 17.30% on 14th November. Today, the red candle with over 70% volume compared to the previous day volume indicates supply below RM1.36 resistance. Presently, RM1.36 is the resistance, possible further rally if the stock breaks the resistance.

AirAsia false breakout of RM1.91 resistance has forced the stock to drop further. Moreover, the lack of volume displayed the demand is low to propel the stock price up. Although it is testing RM1.83 support, I reckon retailers should avoid this stock because the volume is low.

Sapura Energy is consolidating above short-term RM0.285 support and below RM0.305 resistance. Although it has penetrated the descending triangle, the high volume with lack of follow-through is something we have to reassess this stock. On the other hand, I have advised my friend to avoid this stock and keep it on the watch list.

Ifcamsc is the stock that I missed the major rally in October. I did not put it in my watch list because I was wary of decreasing net profit. After the rally, the upthrusts with high volume occurred on 5th and 8th November. These are a cautionary indicator and the retailers should not rush in to buy this stock. Moreover, the recent three selling days showed the demands are low. I reckon further monitoring is required.

Mflour is consolidating after the rally of 21% in October. The down candle on 14th November is cautionary, the false breakout with high volume indicated the supply was overwhelming. Presently, the stock is testing RM0.695 support and I reckon strong selling is possible if the stock breaks the support.

Author: Gerald Koh