The market is overbought and the correction continues. The heavy delivery volume also affected the market and the KLCI closed at 1566.51 down 3.53 or 0.22%. Many of the actively traded stocks are overbought and they are down.
List A stocks are overbought; HOLD if they are able to stay above their support levels SELL once their support levels are bridged.
List B stocks are neutral, BUY only stocks with STRONG INERTIA and HIGH RATING when they breakout above their resistance levels with good supporting volumes.
LIST A
Stock Close S'port Resist. RMIndex Inertia Rate
1. MITRA 2.00 1.83 2.06 99.8 64.5 4.8
2. KUB 0.935 0.87 0.96 98.9 61.7 6.3*
3. BORNOIL 0.735 0.635 0.745 98.9 63.5 3.9
4. MASTEEL 1.42 1.34 1.44 97.7 70.6 4.0
5. TANCO 0.22 0.205 0.23 95.6 70.1 1.9
6. BORNOIL-WB 0.26 0.21 0.26 94.0 58.9 4.8
7. BORNOIL-WA 0.235 0.215 0.24 91.3 45.9 2.9
8. OMEDIA 0.13 0.125 0.13 90.0 53.2 10.0
9. SYCAL 0.155 0.145 0.165 89.2 54.9 3.8
10. TFP 0.14 0.135 0.145 86.4 49.2 3.8
11. LSTEEL 0.535 0.51 0.56 84.4 53.4 10.0*
12. MEDIAC 0.915 0.91 0.935 81.3 55.1 7.5*
13. SUMATEC 0.37 0.31 0.375 79.6 57.0 5.9*
14. KINSTEL 0.995 0.97 1.02 77.1 55.4 6.3*
15. MAXIS 5.40 5.36 5.40 76.4 60.8 7.5*
16. POS 3.64 3.42 3.72 74.7 50.6 7.1*
LIST B
Stock Close S'port Resist RMIndex Inertia Rate
1. MISC 8.50 8.46 8.50 69.3 55.5 5.6
2. GUNUNG-WA 0.43 0.42 0.45 65.4 51.3 5.7
3. AIRPORT 6.20 6.15 6.20 61.7 52.0 8.0*
4. PPB 17.50 17.50 17.52 41.7 56.5 4.6
5. SLP 0.465 0.455 0.48 17.7 17.9 4.0
FAVOURITES *
"TECHNICAL ANALYSIS - YOUR ROAD MAP TO PROFIT"
TAN
