Category Archives: Zhulian

Update on Zhulian [5131]

I mentioned in my previous post on Zhulian that its price is expected to rebound once it reaches the RM2.53 level. Given the improved sentiment today, the price may not reach the RM2.53 level but instead rebound tomorrow since RM2.60 is itself a support level. The formation of a dragonfly doji with high volume and the creation of 8 new lows as counted from the 21st of January provide further signal of a possible reversal.

Stock to Watch: Zhulian [5131]

Given the strong track record of the company, coupled with its high dividend yield, Zhulian will definitely attract the attention of both the fundamentalists and technical analysts as it slides further. We need to be quick in determining the level of which the risk-reward ratio is low enough for us to take a comfortable position before it stages a rebound. To determine this level, we need to look at its supports and resistances (S/R).