Update: RHB & Utama

RHB - Has fallen for 5 days straight after breaking thru the support line at 1.16. Friday was a big fall. Its now at the support level of 0.93 & next support is 0.80. RSI & MACD are both down. It is a major breakdown so don't get into any new positions until we know for sure whats happening & until we see a strong reversal of the fall in a bullish candle pattern. Stay away from RHB for now.


Utama - Has been falling for quite a few sessions & fell badly on Friday. When it broke down from the symmetrical triangle (ST) on 3 Aug (red circle) that was a sign of major correction. It has continued falling since then & culminated in a big fall Friday. H'ever it has now formed a long legged Doji & if Monday it opens above 0.91 & stays above, that will give us an evening star & maybe the correction will be over. That is the optimistic scenario, but if it stays below 0.90 then next support is only at 0.82. I would stay out for now.