Catching A Falling Knife

The current share price of Malaysian-listed egg producer, Teo Seng Capital Berhad (Teo Seng) has fallen to its 24-month low of RM0.99 as of morning session, 28 Nov 2016.

From a Fibonacci perspective, it is heading toward its next support point of RM0.953. Will we see a rebound by then? Or will it continue to fall?

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Other technical indicators appear to highlight an oversold position in this Company:

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Do you dare to catch a falling knife? The answer to this key question lies with the future earnings of this Company. If earnings continue to disappoint, there may be potential downside risk to this Company.

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DISCLAIMER: THIS IS A PERSONAL BLOG AND SHALL NOT BE RELIED IN WHATSOEVER MANNER BY ANYONE. ALL ARTICLES CONTAINED IN THIS SITE ARE FOR INFORMATION AND ILLUSTRATIVE PURPOSES ONLY AND DOES NOT PURPORT TO SHOW ACTUAL RESULTS. IT IS NOT, AND SHOULD NOT BE REGARDED AS INVESTMENT ADVICE OR AS A RECOMMENDATION REGARDING ANY PARTICULAR SECURITY OR COURSE OF ACTION. SOURCES USED IN THIS SITE HAVE NOT BEEN INDEPENDENTLY VERIFIED FOR ACCURACY, COMPLETENESS AND TIMELINESS. YOU SHOULD SEEK INDEPENDENT AND PROFESSIONAL INVESTMENT ADVICE IN REGARD TO YOUR INVESTMENT DECISIONS. THE AUTHOR MAY HOLD POSITIONS IN THE SECURITIES OR RELATED INSTRUMENTS MENTIONED ABOVE.

Author: Ken Utau

Data Scientist, Markets Analyst and Food Lover

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