SUNREIT: 12 July 2014, Saturday, 12.39am Singapore Time
Chart courtesy of Chartnexus.com
Attached is the technical analysis of SUNREIT listed in KLSE.
LARGE SCALE Pump and Dump in Malaysia is at its final phase and is expected to end in 2014.
Malaysia KLCI Index is executing a Bear Market Transition Confirmation in 2014.
SUNREIT is also following suit.
In fact, based on technicals and volume counting, majority of Malaysian public are holding on to Malaysian stocks and equities such as the SUNREIT attached above. There have been 6 massive rushed unloads to the public using positive sentiments and rosy outlook. In addition, based on ground check, public sentiments in Malaysia is very bullish. For instance, many are saying "There is no way Malaysia will go into bear market. This bull is far from over. Outlook is very good."
Unfortunately, magic stones at high prices are most easily sold to public when sentiments are high, adrenalin juices is rushing and flushing to the head, outlook is rosy and everything looks formidably good.
This is when the climax ends and the U-turn sets in.
SUNREIT, together with Malaysia Stocks and Equities Market, is making confirmation of transition to bear market right now.
Donovan Norfolk Technical Rating:
Bearish
Sell on Rebounds
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