Thursday, December 21, 2006


KLCI ends almost flat +0.38 points, to 1076.68 in moderate volume as gains in property related stocks, plantations and handful of blue chips offset profit-taking in broader market. Profit-taking Friday ahead of long weekend and year-end holidays expected to drag market lower tomorrow, possibly to around 1070. The market's rebound from Tuesday's knock-on effect following the Baht debacle provided an ideal opportunity for short-term investors to lock in profits. However, mild bargain hunting in blue chips and the relaxation of ruling for foreign ownership of properties helped offset some losses.

Technically, ok lar Not Bad. Best buy 0.22 and below. Immediate targer 0.24. Cut loss 0.20.

For 21 DEC the closing price was 0.2250.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.26.
The projected lower bound is: 0.19.


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