STILL WAIT & SEE - KLCI, SPOTMNT, UTUSAN, FAVCO, MUHIBBAH

Trading action for next week will continue to favour the large cap telecommunication stocks as well as the government-linked construction companies as these stocks are still showing a resilient trend despite the overall weak market. Nonetheless, investors should be wary of the sudden reversal in these stocks, as any profit taking activities on these stocks will be steep considering its strong run-up in the past two trading weeks. Selling pressure on the financial stocks is expected to taper off next week but investors should continue to adopt a 10%-15% strategy to avoid any sudden correction.

AS for me, duh still no important leads, wait & see again.

KLCI
Hopes to see a meaningful rebound testing the 1095 resistance. The immediate support level is 1,070.

For 15 DEC the index closed at 1,089.31.
Overall, the bias: Upwards.
Short term: moving.
Intermediate term: trending.
The projected upper bound is: 1,110.96.
The projected lower bound is: 1,072.55.


SPOTMONTH DEC
Hopes to see a potential rebound toward 1105. Support level is 1060.

For 15 DEC the SPOTMNTH closed at 1,087.5000.
Overall, the bias is: Upwards.
Short term: stalling.
Intermediate term: trending.
The projected upper bound is: 1,112.07.
The projected lower bound is: 1,068.07.


UTUSAN
Technical readings as requested by some friends o mine.
For now, sideways toward bearish - testing support 1.45. If breach, the next support level is 1.30.

For 15 DEC the closing price was 1.5000.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1.81.
The projected lower bound is: 1.31.


FAVCO
As requested by a friend.
Favco, looking good technically. Its ability to hold above the 0.75 support level, make it strong enough to test the 0.85 resistance level once again. And if it can breach this resistance level, the next target would be 1.00.

For 15 DEC the closing price was 0.8250.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.89.
The projected lower bound is: 0.76.


MUHIBAH
Also as requested by a friend.
As for Muhibah, it is important if it can hold above the 2.50-2.55 support zone to gain momentum to test the 2.70 resistance level.

For 15 DEC the closing price was 2.6200.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 2.79.
The projected lower bound is: 2.47.

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