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I believe a lot of people are trying to collect at least one bank stock in his/her portfolio. There are two different group of people, one thinks that the share price of bank stock is very cheap now, another one thinks that the share price of bank stocks will go further down in the future.

So, is now the right timing to collect bank stocks? Let's look at the TA of the most popular bank stock: MAYBANK.





Technically, it is not looking good for MAYBANK.
1. 20-Day Moving Average is sloping downward and its price action is below the Moving Average line.
2. Bearish breakout of the support level of 7.4. This breakout was accompanied by a higher than average traded volume.
3. Its share price retraced more than 50% from its recent highest price.

Refer to the technical chart, it is still not the right timing to collect MAYBANK.




Do you want to know when should we start to collect MAYBANK? Instead of MAYBANK, what other bank stock we can collect?

Join our telegram channel to get the answer.
https://t.me/bursashortterm

https://klse.i3investor.com/blogs/bursatrade/2020-08-31-story-h1512626141-MAYBANK_1155_Time_to_collect_bank_stocks.jsp

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