Telekom Malaysia technical analysis

TM is a Tough stock to analyze.  At first, we have the downtrend.  Yes I know the downtrend was sparked by a split from TM to Axiata.  Nevertheless whether there is a corporate exercise or stock splits, The technical levels more or less stay the same.

In my opinion, TM bears some similar characteristics to punter stocks.  On the previous Tropicana post, I describe punter stocks as one that kicks all the way up and all the way down.  More or less since the de-merger of Axiata and TM, the stock has been punted up.  I have no idea whether it will be punted down or not but we shall see.

It's Long term uptrend line has barely been tested and when it has, very rarely has there been consolidation.  So, it fits the defnition of a punter stock.  But since this is one of the great stocks in Malaysia, we'll give it the benefit of the doubt in that it's really in an uptrend, not a huge range.

In that case we will look for purple trend line to be tested hopefully some time in the future.