The market fell sharply after the support level of 1504 was broken. The KLCI then closed at 1496.99 down 27.44 points 1.80%. Although the KLCI rebounded in the afternoon session to close at its immediate support level at 1497, the market is still very weak. Will this support level hold? Much depends on the financial situation in the USA as well as the overall global financial situation. Be cautious. If the 1497 level breaks the next support level is 1440!!
Stock 1 & 2 are overbought.
Stock Close S'port Resist RMI Inertia
1. METECH 0.68 0.665 0.70 89.5 56.8
2. RANHILL 0.745 0.735 0.78 81.4 57.7
3. ASIABIO 0.06 0.06 0.065 46.0 48.8
4. SUNWAY 2.63 2.61 2.65 36.6 47.5
5. AGLOBAL 0.035 0.035 0.04 25.9 43.8
KLCI - at close 8.8.2011
"TECHNICAL ANALYSIS - YOUR ROAD MAP TO PROFIT"
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