The market correction accelerates as heavy volume selloff set in when the KLCI broke below the 1550 support level. It closed at 1547.43 down 19.08 points or 1.22%. The immediate support level is at 1523. Will this support level ever hold? If it does not hold, we will see lower levels.
List A stocks are overbought, upside limited unless market is very Bullish. Be cautious,
List B stocks are neutral and approaching overbought situation. If they are able to hold at or above their current support price levels, they may see higher prices.
In the scenarios of List A and List B stocks, SELL when their support levels are broken with heavy selling volumes.
LIST A
Stock Close S'port Resist. RMIndex Inertia Rate
1. MASTEEL 1.41 1.41 1.43 98.0 71.0 3.2
2. GUANCHG 2.62 2.59 2.70 97.4 59.6 7.2*
3. MUH 0.40 0.39 0.44 96.4 64.3 10.0*
4. BORNOIL-WB 0.40 0.26 0.465 95.5 59.9 8.6
5. HWGB 0.475 0.45 0.485 95.4 62.9 4.2
6. HWGB-WB 0.38 0.335 0.385 94.2 60.7 6.8
7. UTUSAN 0.965 0.93 0.995 94.1 55.3 4.5
8. TFP 0.14 0.14 0.145 88.1 49.8 6.0
9. JOTECH 0.135 0.125 0.14 85.4 68.3 7.5
10.JOTECH-WA 0.055 0.05 0.055 83.9 50.5 6.0
11.K1 1.45 1.42 1.47 73.8 40.3 3.8
LIST B
Stock Close S'port Resist. RMIndex Inertia Rate
1. MBFHLDG 0.715 0.68 0.725 69.9 57.1 10.0*
2. K1-WA 0.885 0.87 0.92 66.9 45.1 4.7
3. MBFHLDG-WA 0.19 0.17 0.21 42.5 42.3 9.2
4. SHANG 2.75 2.74 2.75 42.3 52.3 5.3
5. REXIT 0.37 0.355 0.38 11.4 43.6 8.6
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"TECHNICAL ANALYSIS - YOUR ROAD MAP TO PROFIT"
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