Sunday, December 03, 2006

KLCI, SPOTMNTH, SAPCRES, GLOSOFT


The current bullish really troublin me, becoz no correction at all. Last night, I've a chance talking to my `Sifu' who is an Elliot Wave expert. He said that the current bullish trend could last until February 22, 2007 (ghee! the next important date)... heh.. heh dunno lahhh


KLCI
Still testing the 1,080 resistance. If able to breakout, the next target would be 1,095. However the market currently is in an extreme overbought condition.


For 1 DEC the KLCI closed at 1,080.1100.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1,098.55.
The projected lower bound is: 1,066.36.
The projected closing price is: 1,082.46.


SPOTMONTH (DEC)
Possible target for this month is 1,105.

For 1 DEC the closing price was 1,077.0000.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1,096.55.
The projected lower bound is: 1,062.27.
The projected closing price is: 1,079.41.



SAPCRES
Breakout resistance 0.72. Next Target 0.755/0.80. Below 0.74 can be considered a good buy. Cut Loss 0.70.

For 12/1/2006 the closing price was 0.7400.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 0.78.
The projected lower bound is: 0.70.


GLOSOFT
On the rebound toward 0.16/0.185. Strong supporting volume. Cut Loss 0.145

For 1 DEC the closing price was 0.1550.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.17.
The projected lower bound is: 0.14.


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2 comments:

swifz said...

I'm uncomfortable too. I detect slight bearish divergence on the daily KLCI chart...anyhow...i think the gear will be shifted to Mesdaq and 2nd board soon

zentrader said...

"He said that the current bullish trend could last until February 2, 2007"

Noted for the date. TQ