What Next For MTDi, RHB, Utama, Tebrau & Versatile

Some of our favourite stocks took big tumbles so I will review them here.

1) MTD Infra - took a big tumble. Cup & Handle & Flag both have failed dramatically. If you had followed my blog, I put a cut loss at 1.40. It found support at the long term support of 1.08. Further support is at 1.00. If you have not sold, then you may want to sell on rebounds. Resistance is at 1.20 & 1.25.



2) RHB held on at the support level of 1.16. Further support exists at 1.05 & 0.93. Due to the EPF buyout proposal, it should hold at 1.05.




3) Utama - This is a very good stock. Despite the falls elsewhere it held up close to the support level 0f 1.11 which was half way up the candle & also a long term support. Additional support is at A 1.08 the top of the flagpole & B 0.92 a long term support. Volume is low despite the fall. I would hold this stock.



4) Tebrau - It found support at the long term support of 0.55. Further support is at 0.45. I am still holding this stock & would buy again if it goes to 0.48 - 0.45, as I believe 0.45 is a strong support. However, unless the market continues to bleed, Tebrau migh hold at 0.55. It is surprising that earlier many people were so sure that it was a good stock & were prepared to buy at 0.72, but now everyone wants to sell at 0.55. This is the time to buy not sell.



5) Versatile. The Flag has failed. However, if you had followed my posting a fall below 0.875 was your cut loss because that meant failure. It found support at a previous high of 0.65. Further support is at 0.55. Despite the fall, volume was not abnormally high at 17 mil as on 12 July it was at 23 mil. If you have not sold & can afford to let it fall to 0.55 before rising again, then you may want to hold on. It will probably rise again as all good syndicated stocks do... 8))

Incidentally the same applise to Iris.