Pos Malaysia Bhd counter wasn't spared in today's panic selldown at Malaysia stock market after reaching its year high on 14/1/2013.
1. It's market value closed at a whopping loss of -5.31%.
2. Today's candlestick signal is Fred Tam's black inside out down.
3. A clear signal for selling out on 16/1/2013, as it closed below the previous third candle.
4. The downtrend is expected to continue with various support lines holding the stock price at 3.39, 3.22, 3.12 and 2.93. After 2.93, is a free fall.
5. Another point to note is MACD and RSI are also pointing downwards.
With less than a month to go for Malaysia's election announcement, those who hasn't buy in, please stay sideline on this stock until then.
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