Malayan Flour Mills Bhd (KLSE : 3662) - Why the price fails to move higher ?

On 13 Nov, the company announced their 3rd quarter earning (30 Sept) with strong revenue and net profit to shareholders as compare to the last 2 quarters. The latest quarter result also stronger than quarter results in 2018.

Below shows the quarters earning since 2018.

Despite having a strong quarter result, the stock price failed to move higher than its high of RM0.855 recorded on 4th April this year.

Technical analysis will be our main focus to determine the reason why the stock price unable to move higher.

Below is a daily chart with some of our proprietary tools.

Take a close look at the chart and you will notice a confluence of resistance formed by two borders of resistance zones (RC1 and RC2). There are RC1-2 and RC2-1.around the price of RM0.73.

The stock price did broke above the confluence of resistance (RC1-2 and RC2-1) on 14 Nov. Unfortunately, the price unable to hold above it at the end of market trading and closed much lower. Relatively very high volume were transacted on that particular day - Strong Sign of Weakness.

Going forward, the resistance zones (RC1 and RC2) should be noted as one of the critical  criteria during analysis.Take note RC1 and RC2 resistance zones are dynamic variable.

 
Source :
1) Metastock
2) I3investor website

Telekom Malaysia Bhd (KLSE : 4863)

Daily chart.

Currently, the price upward movement has been constrained by strong resistance.
From the chart above, take note the confluence of resistance formed by two different indicators.
 
Resistance zone is between RM3.90 to RM3.99 
RC1 at RM3.896 level.

Immediate support levels based on S-Trader Trend Tracker at RM3.60 and RM3.70
Break below RM3.70 level will triggers an alert of potential further downward.


Source :
1) Metastock