On 28 June, a local newspaper TheStar reported that the fourth-largest mobile operator U Mobile Sdn Bhd is terminating its network sharing and alliance agreement with Maxis Bhd which was signed in 2011.
Maxis said, on 23 June, Maxis Broadband had received a letter from U Mobile to end the agreement. This was pursuant to a termination for convenience option available to U Mobile.
More news, U Mobile ends network sharing deal with Maxis
Daily chart.
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Source :
1) Metastock
2) www.thestar.com.my
Daily chart.
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1) Metastock
Daily chart.
Weekly chart.
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Weekly chart.
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Source :
1) Metastock
Daily chart.
Recap, in the last update dated on 16 July. it stated that the continuation of upward trend requires relatively above average or higher volume to breakthrough the resistance zone.
On 19 July, the price action successfully closed within the resistance zone associated with relatively above average volume. The following day, it managed to break above the zone but failed to close above it.
Then came the following news on Friday, 21 July - after a tanker-tracking firm reported supply from OPEC is rising.
OPEC's July oil supply was set to rise by 145,000 barrels per day (bpd) compared to June, Reuters reported citing data from PetroLogistics, a company that tracks OPEC supply forecasts. The increase in oil supply would push production above 33 million barrels per day.
Higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria would drive this month's gains, according to PetroLogistics.
More news, US crude tumbles 2.5%, settling below $46, after report of rising OPEC oil output
Take note that the overall price
action is still weak - death cross situation.
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: S-Trader indicators/tools are not part of Metastock software package.
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Source :
1) Metastock
2) www.cnbc.com
3) Reuters
Weekly chart.
Related post, Noble Group (SGX : CGP) - More Upside ?
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Weekly chart.
Note
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It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us. .
Source:
1) Metastock
Weekly chart.
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It is our proprietary system/tools. If you have any further inquiries,
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Source:
1) Metastock
Daily chart.
Related post, China’s Wahaha heiress takes Hong Kong penny stock on a roller coaster ride
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An aborted acquisition deal by the heiress of Chinese beverage giant
Hangzhou Wahaha has sent loss-making China Candy, a Hong Kong penny
stock, into a free fall.
The candy maker's share price has plummeted 70 per cent from 53 HK cents to 16 HK cents since Friday. It marked an abrupt end to a dizzying 400-per cent bull run since April following the announcement of the potential takeover bid by Kelly Zong Fuli, once dubbed "China's richest daughter".
The only scion of billionaire tycoon Zong Qinghou, who had topped China's wealth list in 2013, made a rare move by using her personal social media account to disclose her failed attempt to buy out the little-know Hong Kong firm.
More news, China’s Wahaha heiress takes Hong Kong penny stock on a roller coaster ride
Source:
1) www.scmp.com
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Source :
1) Metastock
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
Daily chart.
Recent price rebound from S-Trader Trend Tracker support level associated with relatively low volume and further upward movement capped by resistance zone and 50-period SMA, as shown above in the chart.
For upward trend continuation, it needs relatively above average or higher volume to breakthrough the resistance zone. However, overall price action is still weak - death cross situation.
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Source :
1) Metastock
Yesterday the share price broke the final S-Trader Trend Tracker resistance level with strong price action and volume. Potential new uptrend phase in the making.
Daily chart.
Note #1 : "Menari" is a Malay language word, which means Dancing.
Note #2
: S-Trader indicators/tools is not part of Metastock software package.
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Source :
1) Metastock
Recently, Reuters reports that the revenues in the
world's biggest casino hub of Macau jumped nearly 30 percent in June,
posting an 11-month winning streak, as demand from high-roller VIPs
accelerated despite a corruption crackdown.
Monthly
gambling revenue in the Chinese special administrative region rose 25.9
percent to 20 billion patacas ($2.49 billion) and analysts were expecting growth of 23 percent to 33 percent.
Related post, Macau casinos post 11th month of gains on VIP resurgence
Daily chart of Wynn Macau Ltd (HKSE : 1128)
Daily chart of Melco International Development Ltd (HKSE : 0200)
Daily chart of MGM China Holdings Ltd (HKSE : 2282)
Daily chart of Sands China Ltd (HKSE : 1928)
Daily chart of SJM Holdings Ltd (HKSE : 0880)
Daily chart of Galaxy Entertainment Group (HKSE : 0027)
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Source :
1) Metastock
2) www.reuters.com
Recently, South China Morning Post reported Cheung Kong Property Holdings, one of Hong Kong’s largest real estate
developers, has received 50 per cent fewer registrations for the latest
phase of its Ocean Pride apartments in Tsuen Wan, even it sold 95% of available units. A sign that
buyers are staying by the sidelines while the world’s hottest
residential market appears to be losing heat.
Daily chart.
Related post, Demand cools for Ocean Pride apartments, even as Cheung Kong sells 95 per cent of available units
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