The USD/MYR chart is bearish, no good for USD but bullish for MYR.
In the monthly candlestick chart, the January candlestick is in red, I am looking for a longer red body by end of January.
In the weekly candlestick chart, it is forming its mini wave 3.
In the daily candlestick chart, the mini wave 3 has completed the minor wave i and ii and is forming the minor wave iii of its mini wave 3.
Hopefully USD/MYR can go below 4.0 by next month.
Berjaya Corporation Bhd (Rm0.315)
BJCorp moved up strongly today, gaining 2.5 sens (+8.62%) to 31.5 sens with heavy volume of 61 million shares traded.
BJCorp has been moving in a downwards trend since April 2010 from around Rm1.70 to its record low of 27 sens by end of 2018.
Since early 2016, divergence between its OBV and stock prices started to appear. The lows of its OBV have been moving in an upwards trend even though the lows of its stock price continued to move in a downwards trend from 33 sens to 27 sens.
Its OBV is at the fringe of a breakout. An OBV breakout to above 1,600 million level is very likely signalling the starting of a new up trend cycle after the long decline since April 2010.
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