Maybank drops - OPR cut and Coronavirus effect - double whammy

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Maybank shares continue to be under pressure.

With the announcement of the cutting of OPR, expect the banking stocks will continue to drop due to lower interest income.

Plus the Coronavirus effect, Maybank will expect to go lower in the coming weeks or even months.

Technical chart-wise, we can see that it is on the downtrend still.

The share price of Maybank is below MA 50.

MA 50 is below MA150, and MA 150 is below MA 200.

Long term downtrend is still intact.

There are not many catalysts to push the price higher.

MACD is on the downtrend as well.






Heikin Ashi Candlestick Technical Analysis Charts


For Heikin Ashi, all the candlesticks in showing downtrend signal.

Suggest investors to monitor and wait until Maybank share shows sign of reversal.






Reference:
https://malaysiainvestment88.blogspot.com/2020/01/maybank-drops-opr-cut-and-coronavirus.html

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