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TELEKOM MALAYSIA BHDTT

TELEKOM MALAYSIA BHD

6.83MYRD
−0.05−0.73%
At close at Feb 28, 08:59 GMT
MYR
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TM trade ideas

Telekom Malaysia, way back to KLCI? TM, known as Malaysia first internet services provider in Malaysia. It has falls more than 50% since Malaysia first new government election back in May 2018. It have successfully made its first rebound on Nov 2019. Those who have missed it, it have recently reacted at 0.618 Fibonacci Support. With the major impairment made in last two QR, would it be a new chance for TM to climb back to it's glory? *Disclaimer - This analysis is NOT a buy call Before you enter any trade in the financial market, it is very important that you have proper trading plan and risk management approaches.
MLong
by ChinWee
Anticipating Rebound for TMTM stock has been tumbling since the beginning of the year due to facing some stiff competition with local internet service provider. It has at least bottomed at RM 3.010 level at the end of June. It however has been rallying since then, touching RM 4.005 level two times, the level which was considered as the previous swing high. Now it has potential to form an inverted head and shoulder pattern, with potential right shoulder being formed at around RM 3.600. If this is the case, it would be a buying opportunity upon breakout of the neckline. It is also interesting to see how market reacts at RM 3.600 level. So a reversal pattern at this level may confirm the reversal of trend will be inevitable.
MLong
by nivelij01