Don't Sell MPHB !

A TECHNICAL SELL was put on MPHB shares by CIMB Research....... A big mistake !

Another mistaken done by Technical Analyst (TA) !!! Actually in a volatile market like now, TA is not workable, all technical indicators, like MACD, RSI, bla bla bla, are gone hire-wired.

Therefore all the indicators pointing to sell on MPHB is a mistake by TA. With current situation, all the indicators will point to sell on most counters.

In fact, with the company good fundamental, there should put a HOLD on the counter. This is so-called FA, keep the good counters instead of TA, sell when sell indicator was hit.

Below is the sell-call published in theedgemalaysia.com.

CIMB Research has Technical Sell on MPHB

KUALA LUMPUR: CIMB Equities Research has a Technical Sell on Multi-Purpose Holdings (MPHB) at RM2.59 at which it is trading at price-to-book value of 1.3 times.


It said on Tuesday, Sept 20 that MPHB is trading below all its key moving averages. If the triangle support fails to hold, we expect next downleg to be steep. A slip below RM2.51 would push prices towards RM2.43 and RM2.35.


“Technical landscape is deteriorating. MACD signal line has staged a negative crossover while RSI is below the 50pts mark.


“Our strategy here is to unload on strength, especially near the RM2.68-RM2.80 resistances. Only a rise above RM2.80 would prompt us to review our call,” it said.