The KLCI had a correction. It closed at 1513.70 down 14.31 points.
Stocks 1 - 14 are overbought and stocks 23 - 26 are oversold.
Stock Close Support Resistance RMIndex Inertia
1. KENCANA 2.03 1.94 2.11 99.0 61.7
2. DIALOG 1.46 1.38 1.49 98.8 72.0
3. ASB 0.115 0.105 0.115 98.4 63.7
4. PMETAL 2.53 2.15 2.61 98.3 63.2
5. HSPLANT 3.02 2.85 3.07 97.6 77.5
6. MUHIBAH 1.39 1.25 1.44 97.4 64.0
7. DENKO 0.16 0.135 0.16 97.1 67.4
8. ASB 0.225 0.22 0.23 94.5 63.6
9. KSTAR 0.90 0.815 0.94 90.5 66.2
10. PERISAI 0.59 0.575 0.61 90.4 59.1
11. SYMPHNY 0.25 0.24 0.26 83.8 57.0
12. INSBIO 0.28 0.24 0.28 83.3 52.9
13. RANHILL 0.865 0.855 0.96 79.8 47.0
14. UEMLAND 2.47 2.41 2.52 78.7 51.4
15. AEM 0.355 0.345 0.37 62.5 43.9
16. AXIATA 4.52 4.49 4.55 46.7 44.3
17. GPRO 0.105 0.10 0.11 44.4 25.9
18. GPACKET-WA 0.415 0.41 0.43 38.9 42.9
19. VOIR 0.68 0.65 0.695 37.4 41.3
20. MLAB 0.105 0.10 0.105 37.3 40.2
21. EPMB 0.52 0.515 0.525 34.6 45.3
22. SYSCORP 1.07 1.06 1.08 31.2 37.1
23. KKB 1.91 1.87 1.92 28.3 39.0
24. TAS 0.54 0.535 0.54 27.4 44.7
25. GPACKET 0.92 0.91 0.94 20.7 39.3
26. EVERGRN 1.48 1.47 1.50 6.9 24.9
NOTE:I have added 2 indices here to help you decide which stocks have greater potential to move higher. The indices are RMIndex and Inertia. Stocks with RMIndex above 70 are overbought and stocks with RMIndex below 30 are oversold. Inertia indicate the buying or selling strenght for the stock. For example when a stock is overbought but the Inertia is high and above 50 indicates that there is still buying power for the stock and therefore could move higher if they are able to breakout above their immediate resistance level. Generally stocks with Inertia above 50 are strong and stocks with Inertia below 50 are weak. You should buy stocks that have a high Inertia and preferably with low RMIndex, the higher the Inertia the better because high Inertia indicates strong buying support/interest for the stock. Stocks with RMIndex below 70 are not overbought and if the Inertia is high should be looked at.
TAN
