Maybank: A Sudden Selldown

21st March 2019 Off By binary
Maybank: A Sudden Selldown
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Maybank is down 15 sen to RM9.32 as at 11:51am. From the monthly chart, we can see that the MACD has curved down since May 2018 (courtesy of GE14). In the past, such bearish MACD cross-under merely brought down the share price to the 40-month SMA line. It was only when the share prices went below the 40-month SMA line – in 2008 and 2015 – that Maybank price decline went into overdrive. Let’s see whether Maybank can stay above RM9.00-9.10 in the current decline. If it can stay above that price level (equivalent to 40-month SMA line) not, this would be a good level to accumulate Maybank.
Chart: Maybank’s monthly chart as at Mar 21, 2019_11.40am (Source: Malaysiastock.biz)

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