It is no surprise that the recovery in the KLCI is short-lived as the financial situation in the USA is not resolved/fixed but temporarily put on "hold". The KLCI closed at 1554.85 down 3.16 points 0.20%. The market is fragile and weak. Be cautious.
Stocks 1 - 6 are overbought.
Stock Close S'port Resist. RMI Inertia
1. AIRASIA 4.14 3.93 4.16 96.9 60.7
2. DVM 0.25 0.155 0.28 92.9 62.2
3. MRCB 2.54 2.53 2.60 92.2 56.5
4. TM 4.05 4.05 4.09 89.3 55.2
5. KULIM 3.82 3.68 3.83 86.9 57.6
6. SCOMI 0.33 0.32 0.335 82.3 55.6
7. LBS 0.88 0.85 0.89 76.7 53.3
8. KBB 0.465 0.45 0.47 74.3 50.9
9. KUB 0.76 0.745 0.77 68.1 48.5
10.MCLEAN 0.24 0.225 0.25 40.0 45.5
11.RHBCAP 9.15 9.12 9.21 38.6 48.4
12.SAAG 0.075 0.07 0.075 37.9 50.2
13.GENTING 10.92 10.82 11.00 33.8 40.2
14.PCHEM 7.00 6.99 7.03 13.7 44.3
NOTE: Some of you asked why sometimes the number of stocks are so many and sometimes so few - well it depends on the volume cut-off point. Some stocks breakout with large volumes and some with small volume. If I use a fixed volume cut-off, some interesting looking stocks will not be included in the posting.
However, I think I will from now on use a volume cut-off of 20,000; that is to say stocks with smaller volumes will not be shown but if you are a subscriber you are free to e-mail me for a Technical reading on your favourite stock to find out how it had performed during the day.
"TECHNICAL ANALYSIS - YOUR ROAD MAP TO PROFIT"
TAN
