Quick Glance at MaBank's Technicals
One of the best performing stocks on the Malaysian stock market over the long run is MayBank.
Currently, the price has essentially been flat since mid-March as the price action is consolidating within a horizontal price channel. You can see this in the chart directly below.
Personally, I would wait for the price action to pick a direction before making any investment decisions.
After a 13% run up, one might expect the price action to take at least a small break from rallying so strongly.
The long-term picture is very bullish for this ticker. Aside from a few market crashes, this stock just keeps climbing. So, if the price action breaks down from that price channel that I mentioned, then I wouldn't be too worried about this investment as the price has always recovered from any major or minor dip in the past.
Some things to pay attention to that may affect the price action of this company are things that may affect the financial sector in Malaysia. Like economic growth, interest rates, and other things like this that affect the health of the financial sector.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
16KFollowers
2944Following
28KVisitors
Follow
101625629 : Upcoming 2HY24 does feel worrysome. inflation fueled by increase 2% in SST consumption tax, higher prices are already being felt on the ground. Fuel subsidies being curtailed. lots headwinds for a subdued second half. Geopolitics worldwide a pressure pot at limits, black swan event likely.
mbb did indicate slower loans growth to be expected.
Commander93 : what is the next target price for maybank? 9.90?
SpyderCallOP Commander93: you would need to follow the true analysts for a price target prediction. I just follow the trend.
Most of the time, I ignore analysts' price targets unless there are a bunch of analysts upgrading or downgrading a company all in the same day. This can happen often following an earnings release or some sort of industry/sector catalyst.
SpyderCallOP Commander93: when you see several analysts scrambling to change their price targets at the same time for the same company, then there is usually more validity to the adjustments than the common individual upgrades and downgrades you would see on a daily basis.