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2009-09-10

AMMB Overbrought With No Major Price Push Up

























Base on the RSI chart AMMB is in over-brought with 72% base on 14day RSI but with CMF is in negetive zone so I think this likely a accumulation on AMMB share by some fund or share holder or may be changing hand of share between one share holder to another.

However all this activity they don't want to push up the price. I think it may be some news will flow out to push up the price so now the fund is positioning for the bounds up. Off cause I may be will wrong because if base on the Wm chart and over all FBM-KLCI now is in high point and the share price may turn down.

Buying share sure will be some risk but I think AMMB will likely bounds up to news high in short term may be after Hari Raya. Myself did not buy AMMB but I brought AMMB-CD due to warrant will earn more if the mother share in rally.

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