Can BNM curb the steep rise in property price? Money always flow to an asset that the investor/speculator thinks that he can make money. For Malaysian, it is either the stock market or property. Since so many people still remembers the 1997/1998 crash, the natural choice for people in that era is property. Is property a bubble? Well, do you know anyone that have to queue up overnight to buy a house? If the answer is no, then it is not in a bubble phase yet.
Anyhow, keep a look out at the property stocks, it could still run up due to the inflation expectation.
SPSetia: Broke out from a triangle pattern, tested the breakout point and it seems that it is now going up again. If it can break 4.70, then the next resistance is at 5.20.
IJMLand: Trapped in a flag pattern. A look at the weekly RSI indicates that it could soon break out from this pattern. Breakout point is 2.50.
IGB: Looks like accumulation for the past 3 months. Could be making a move soon.
Glomac: The pattern is similar to SPSetia. Resistance is at around 1.65-1.75.
E&O: Trying to breakout. Weekly RSI indicates that this is going to happen soon.
Disclosure: Long SPSetia, IJMLand and E&O.