Hidden inside every chart is a story. A story about where the price has been and where it might go in the future. Some stories are obvious. Others are a little more difficult to figure out.
Indices Updated : 06:59:05
Tuesday, October 31, 2006
GBRIDGE, ANTAH, METACOR, BIG, NVMULTI
"I always arrive late at the office, but I make up for it by leaving early." ~ Charles Lamb.
KLCI up just 0.05 point at 986.12 as gains in property, plantation stocks buffer continued profit-taking in broad market. Index expected to stay in 984-988 band for rest of day.
Losers outnumber gainers 5:3 on heavy volume with retail-favored small caps and MESDAQ issues facing brunt of selloff in absence of positive leads.
GBRIDGE
Testing resistance 0.15. Best Buy 0.135-0.14
For 31/10/2006 the closing price was 0.1450. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.17. The projected lower bound is: 0.12.
ANTAH Testing resistance 0.225.Best Buy 0.20
For 31/10/2006 the closing price was 0.2150. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.26. The projected lower bound is: 0.17.
METACOR Strong Uptrend toward 0.30. For 31/10/2006 the closing price was 0.2750. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.30. The projected lower bound is: 0.25. CUT LOSS 0.24
BIG To test resistance 0.96. For 31/10/2006 the closing price was 0.8800. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.93. The projected lower bound is: 0.83.
NVMULTI Best buy on the pullback toward 0.57.
For 31/10/2006 the closing price was 0.6400. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.67. The projected lower bound is: 0.61.
Unable to upload CHARTS, however I think the market will once again focus on SJER (there would be an announcement later this week). The construction and construction material counters expected to da boom again.
" A person is a success if they get up in the morning and gets to bed at night and in between does what he wants to do." ~ Bob Dylan
On Friday, KLCI up 0.7% at 989.26 on relatively high volume. Testing the 990 resistance (6.5-year high). Note market's rise has gained momentum, which surprising given many fund managers away on extended holiday after 5-day weekend.
The volume's pretty good which could mean the rise is sustainable. My immediate target for KLCI still 1,002-1,005 (refer to my previous posting)
KLCI - Real Bull or just Bullshit Technically heading toward 1,002 - 1,005 point target (based on Chap Ayam Projection)
For 27/10/2006, KLCI closed at 989.90. Overall, the bias in Index is: Upwards. Short term: Index are moving. Intermediate term: Prices are ranging. The projected upper bound is: 1,001.15. The projected lower bound is: 980.40.
SPOTMONTH Testing resistance 987-990. Next target 1,040 - 1,050 For 27/10/2006 the closing price was 986.50. Overall, the bias in prices is: Upwards. Short term: Prices are moving. Intermediate term: Prices are ranging. The projected upper bound is: 999.75. The projected lower bound is: 975.05.
TALAM Strong Uptrend To test resistance 0.225 - 0.235. Immediate support at 0.16 For 27/10/2006 the closing price was 0.205. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.24. The projected lower bound is: 0.17.
FRONTKN Strong Uptrend Testing resistance 0.60. Best buy on the pullback toward 0.55. Cut loss point 0.515 For 27/10/2006 the closing price was 0.5950. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.65. The projected lower bound is: 0.55.
LEADER Strong Uptrend. To test resistance 0.535 - 0.560. Cut Loss point 0.50 For 27/10/2006 the closing price was 0.5150. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.55. The projected lower bound is: 0.48.
JAVA Testing resistance 1.01-1.03. Next Target 1.15. Cut Loss point 0.94. For 27/10/2006 the closing price was 1.0200. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.11. The projected lower bound is: 0.94.
AISB To test resistance 0.67-0.74. Best buy at 0.62. Cut Loss 0.60 For 27/10/2006 the closing price was 0.6450. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.69. The projected lower bound is: 0.60.
AMMB Break resistance 2.70. Next target 2.95. Support 2.55 For 27/10/2006 the closing price was 2.7400. Overall, the bias in prices is: Upwards. The projected upper bound is: 2.85. The projected lower bound is: 2.65.
MBFHLDG To test resistance 0.435. Next target 0.50. Cut Loss 0.40 For 27/10/2006 the closing price was 0.4300. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.49. The projected lower bound is: 0.38.
" Profit make traders feel powerful and give them an emotional high. They try to get high again, put on reckless trades, and give back their profits. Most traders cannot stand the pain of string losses. They dies as traders after hitting rock bottom and wash out of the markets. The few survivors realize that the main trouble is not with their methods, the trouble is with their thinking. They can change and become a successful traders." ~ DR. ALEXANDER ELDER
On Friday, KLCI ends at 979.19 in thin volume ahead of long festive break after trading in tight 977-981 range. The benchmark is expected to trade within 977-984 next week. Gains in plantation, construction and handful of government-linked companies (GLC) helped offset profit-taking.
On Friday, My CHAP AYAM INDICATOR filtered the following:
EDEN (7471) Best bet 0.56-0.58. Resistance 0.625/0.655
For 20/10/2006 the closing price was 0.615. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.70. The projected lower bound is: 0.54. CUT LOSS: 0.55
HIAPTEK (5072) Best bet at 1.04/1.00. Target 1.12 For 20/10/2006 the closing price was 1.08. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.15. The projected lower bound is: 1.02. CUT LOSS: 1.00
SUNRISE (6165) Best bet at 1.54/1.56. Target 1.72 For 20/10/2006 the closing price was 1.59. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.65. The projected lower bound is: 1.53. CUT LOSS: 1.50
YECHIU (7463) Target 1.27/1.33 For 20/10/2006 the closing price was 1.23. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.32. The projected lower bound is: 1.15. CUT LOSS: 1.14
"Cheer up! The worst is yet to come!" ~ Mark Twain
KLCI ends at 978.77 in moderate volume, lifted by blue chips, finance and MESDAQ issues. The benchmark likely to open higher, possibly trade within 975-980 band tomorrow but pre-weekend selling pressure and profit-taking ahead of long festive break next week may narrow gains. Wall Street's gains overnight, tame September CPI helped lift investor sentiment but intermittent profit taking narrowed gains.
The CHAP AYAM INDICATOR selected Evergrn & Lingui for today, however I'll not do any more buying bcoz I'll be gone until 29 Oct.
EVERGRN (5010) Testing resistance 1.10/1.11. Next target 1.20/1.26. High Risk due to low volume.
For 19/10/2006 the closing price was 1.10. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.17. The projected lower bound is: 1.04. CUT LOSS: 1.00
Business Activity MFR OF MEDIUM DENSITY FIBREBOARD WOODEN FURNITURE (KNOCK-DOWN) AND DOORS
LINGUI (2011) To test resistance 1.19. High Risk - Low volume & overheated situation. Best best near support level 1.07/1.09
For 19/10/2006 the closing price was 1.1300. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.23. The projected lower bound is: 1.04. CUT LOSS: 1.00
You can't have everything. Where would you put it? ~ Steven Wright
Share prices closed slightly lower in listless trade with volumes remaining thin, as investors continue to stay on the sidelines ahead of the long festive holidays from this weekend. The Kuala Lumpur Composite Index (KLCI) was down 1.34 points or 0.14 pct at 975.89.
The benchmark possibly trade within 975-980 band tomorrow, led by gains in construction stocks. September inflation data came in within expectations, rising 3.3% on year, reducing likelihood of rate hike by central bank. Offer by IJM Corp to takeover rival construction firm Road Builder for RM1.56 billion or RM3/share expected to boost construction sector tomorrow while consumer related stocks, property and blue chips may rise in mild bargain-hunting after recent consolidation
The index is expected to move in a tight range but sentiment is likely to improve next month following the holidays. The market would stabilize after next week's festive holidays. As investors prepared for the upcoming festive season, local funds are liquidating some investments for the expected redemptions of funds.
KLCI Getting weak, dropped below parabolic line. Expected to stuck between 970-985 for a while. Important support is at 970.
For 18/10/2006 the KLCI closed at 975.8900. Overall, the bias in prices is: Upwards. Short term: Prices are stalling. Intermediate term: Prices are ranging. The projected upper bound is: 986.65. The projected lower bound is: 966.60.
"You're only given a little spark of madness. You mustn't lose it"
- Robin Williams
KLCI ends down 0.7% at 977.23 in moderate volume of follow through selling pressure; expected to drift within 975-980 Wednesday. This as investors lock-in profits from last week's 1.4% rally in KLCI led by blue chips and smallcap stocks. Mildly cautious sentiment ahead of September inflation data due out midday Wednesday "provided the ideal excuse for investors to unwind positions."
The current consolidation mode is likely to continue for the rest of the week ahead of the long festive holidays from this weekend, although the long-term outlook remains good.
The market is expected to trend higher toward the end of the year. The year-end target of 995-1012 points for the KLCI.
Hmmm.. dun wanna take risk for a while: 1. CYMAO that cannot meow - bought at 1.66, cut cut cut at 1.66 2. JADI but tak jadi beli - Void 3. AT - Void 4. TAMCORP tum tam tum tam dropping - Void.
For tomorrow, plans to monitor AFFIN as filtered by CHAP AYAM INDICATOR. May be can swing from its support level.
AFFIN (5158)
Best bet near the immediate support zone (1.83-1.80).
For 17/10/2006 the closing price was 1.85. The projected upper bound is: 1.88. The projected lower bound is: 1.82. CUT LOSS: 1.76
Business Activity COMMERCIAL BANKING HIRE PURCHASE BUSINESS MERCHANT BANKING STOCK-BROKING DISCOUNT HOUSE SRVCS MONEY BROKING
" Whether you think you can or whether you think you can't, you're right!" ~ Henry Ford
KLCI ended flat 983.79, up 0.25 point in moderate volume. The index is expected to extend gains tomorrow on follow-through bargain hunting in blue chips, window dressing by local funds. Market under pressure for large part of day, consolidating within 977 and 984, as investors locked in gains in blue chips from last week's 1.5% rise to 6-1/2 year high of 983.54.
The CHAP AYAM INDICATOR filtered Jadi & Tamcorp for today.
JADI (7223) Potential shoot up to RM0.36. Very Speculative. High Risk.
For 16/10/2006 the closing price was 0.33. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.35. The projected lower bound is: 0.31. CUT LOSS: 0.295
TAMCORP (0048) Testing resistance RM0.50. Potential uptrend continuation. Next Target RM0.55 - High Risk. For 16/10/2006 the closing price was 0.495. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.53. The projected lower bound is: 0.46. CUT LOSS: 0.45
Todays society gives special recognition to alcoholics, sexaholics, binge-aholics, shopaholics, chocaholics and other "-aholics". What about stockaholics? Stockaholics are people who are overly obsessive about their stock market investments.
Are you a stockaholic?
To find out if you are a stockaholic answer Yes or No to the 10 short questions below ...
1. do you check your stocks every day?
2. are you depressed on weekends, because the market is not open?
3. do you hate to go away on vacation because you will be out of touch with the market?
4. do you subscribe to more than 3 financial publications?
5. do you dream about stocks?
6. do you daydream about making a killing in the stock market?
7. do you think your stock broker is your best friend?
8. have you tried different stock market strategies, only to find out they didnt work?
9. do you wish you could consistently beat the market?
10. do you wish you could make more money in the stock market?
If you answered yes to all or most of the questions you are a stockaholic ... or a very good investor. If stocks are interfering with your ability to enjoy life ... or if you are not making enough money in the stock market ... get help.
"You see things; and you say 'Why?' But I dream things that never were; and I say 'Why not?'" ~ George Bernard Shaw
Dear Bros, Dudes & Friends,
Thanks for visiting my blog and gave a lot of feedback. I’m really appreciated it. Some of u has been asking me questions that I also don't even know the answers, pls forgive me. I’m not God, Midas or Gurus that can turn your investment into gold. I’m not even a qualified analyst. I’m just a full time trader who is playing around, testing and messing up with a lot of technical formula.
The only thing I knew & most important before investing is that we must do our own research, technically or fundamentally. Alexander Elder wrote, - “When u trade, u compete against the sharpest minds in the world. The field on which you compete has been slanted to ensure your failure. If u allows your emotions to interfere with your trading the battle is over.” Must do homework lor, cannot simply buy this, buy that lor. Mau pergi perang must bring along weapons lar, if not mati katak before fighting lor.
I might be right for some of the times but I can’t ever be right for all the times.
This Week, Trade carefully and cautiously because some players might clear up their position ahead of long public holiday (Deepavali & Hari Raya).
As at Friday 13 Oct 2006, the CHAP AYAM INDICATOR selected CYMAO, AT, MODULAR, INTEGRA, CBIP (also refer to My TOMYAM Shopping list located below)
CYMAO (5082) Testing resistance RM1.70. Next target is RM1.90.
For 13/10/2006 the closing price was 1.70. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.85. The projected lower bound is: 1.58. CUT LOSS: 1.52
Business Activity MFR AND SALE O VENEER PLYWOOD DECORATIVE PLYWOOD ENGR WOOD FLOORING LAYON AND WOODEN MUSICAL COMPONENT PROV OF LARGE HIRING SRVCS
AT (0072) Trading range RM0.45- RM0.35. Very Speculative & High Risk. Best bet at RM0.36 - RM0.38
Business Activity DESIGN & MFR OF INDUSTRIAL AUTOMATION SYSTEMS & MACHINERY FABRICATION & IND & ENGR PARTS
For 13/10/2006 the closing price was 0.40. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.47. The projected lower bound is: 0.36. CUT LOSS: 0.35
...and THE TOMYAM SHOPPING LIST (Too small? Click on the image to enlarge)
"When prosperity comes, do not use all of it." ~ Confucious
Out of sudden, the bull came & gave ketupat to most inside the market today (some also get the mooncakes). Share prices closed the day significantly higher as some foreign funds returned to trade on the local stockmarket, where sentiment was boosted by the drop in crude oil prices in New York overnight.
KLCI closed at 975.62 at six-and-a-half year high in heavy volume of 840 million shares vs. 10-day average of 516.8 million shares, led by gains across a broad range of blue chips. KLCI may extend gains in follow through trade tomorrow; trade in 972-980 range in pre-Ketupat rally. Rising timber prices lifted timber concern Jaya Tiasa +12.8% to RM2.99, Lingui +4.8% to RM1.10. Aviation stocks gained on further decline in crude oil prices. Improved underlying sentiment encouraged fresh retail interest in penny stocks and smallcaps.
Today my CHAP AYAM INDICATOR filtered aiiyah! many counters lar. However, trade cautiously because it is Friday (a normal profit taking day) and most of the stocks are in the overbought zone.
As for myself, already & totally disposed: The Winners - UTAMA, LATEXX, RAMUNIA-PA, MANGIUM & thank god YGL The Losers – AMTEL & COSWAY
Weekend balik hometown JB lor. However still holding VS Industry (bought at RM1.62)
"Most people would rather die than think; in fact, they do so." ~ Bertrand Russell
KLCI closed flat at 970.37, +0.66 point, in moderate volume, off intraday low of 967.89 despite intermittent profit-taking; local funds helped lift government-linked heavyweights while construction stocks gained on positive newsflow. Index is likely trade within 967-973 range Thursday.
Heavyweight BIMB Holdings supported the market on the back of the company unit Bank Islam's move to form a strategic partnership with Dubai Investment Group, but investor interest generated by such move was offset by profit-taking in Genting following its gains ahead of the submission of its proposal for Singapore's second casino resort.
Trading remains dull and unexciting, with little or no leads to lift sentiment. Investors just seemed uninterested in the market. Follow-through selling in selected blue chips are expected to continue tomorrow in counters like Genting, IOI Corp, and Tanjong. Trading is expected to remain generally quiet tomorrow ahead of Tenaga Nasional's announcement of fiscal year results after the market closes tomorrow.
The stronger volume and positive market breadth yesterday were mostly contributed by increased trading interest in speculative penny stocks and warrants . Hence, the present cautious market undertone should persist, as indicated by the persistent discount on KLCI futures.
For today, the CHAP AYAM INDICATOR selected VS Industry.
VS (6963) Testing resistance 1.63. Potential uptrend continuation
For 11/10/2006 the closing price was 1.61. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.67. The projected lower bound is: 1.56. Cut Loss: 1.51
Business Activity INVESTMENT HLDG MFR ASSEMBLING AND SALE OF ELECTRONIC AND ELECTRICAL PRODUCTS AND PLASTIC MOULDED COMPONENTS AND PARTS
Recent News: VS INDUSTRY ON FY2007 GROWTH - 04 Oct 2006 VS INDUSTRY responding Oct 3, 2006 to THE NST of same date which reported that the Company "... is set to grow its Net Profit by more than 30% in 2007..." replied that the growth target is based on the recently expanded production capacity of about 20%.
VS INDUSTRY HOPES TO GAIN FROM UK CUSTOMER CONSOLIDATION - 21 Sept 2006 VS INDUSTRY INVESTS FURTHER IN ITS INDON PLANTATION UNIT - 18 Aug 2006 VS INDUSTRY INCREASES INVESTMENT IN INDON PLANTATION - 05 May 2006 VS INDUSTRY SEES MAIN CONTRIBUTION FROM PLASTIC PARTS - 24 Jan 2006
"Here is a test to find whether your mission on earth is finished: If you're alive it isn't." ~ Richard Bach (Illusions)
As for October 10, 2006 - KLCI closed flat at 969.71, off intraday high of 971.9, on moderate volume, with Genting leading gains on Sentosa casino license optimism.
In the absence of market stimulating news locally, the KLCI was supported by the better sentiment on regional bourses. Index expected to trade within 967-973 range again Wednesday.
The Pan-Malaysian group of companies, controlled by tycoon Khoo Kay Peng, hogged volume list; PM Industries +42.9% to 5 sen with 74.2 million shares traded, after abandoning rights issue, share consolidation exercise; PM Capital up 4.4% at 12 sen and PM Holdings up 7.7% at 7 sen after exiting PM17 or financially troubled classification.
The Chap Ayam Indicator filtered Latexx for today. Dunno laah can or not.
LATEXX (7064) Best buy at 0.42, potential target 0.51. High risk due to low volume.
For 10/10/2006 the closing price was 0.44 Overall, the bias in prices is: Upwards. The projected upper bound is: 0.48. The projected lower bound is: 0.41. Cut Loss: 0.40
"We don't stop playing because we grow old; We grow old because we stop playing!" ~ George Bernard Shaw
KLCI closed down 0.2% at 969.38 on thin volume, off intraday high of 973.93 as investors took profit, taking cue from the weaker regional bourses. Index expected to trade within 967-973 range Tuesday.
Also notes stocks "not showing much reaction" to North Korean government confirming first-ever nuclear test. Penny stocks continued to dominate trading.
Investors are likely to keep a close watch tomorrow on Japan and Taiwan, which were closed today due to public holidays, to see how their markets would react to the nuclear test by the neighbor state, in defiance of international warnings against it.
It is crucial that a resurgence of strong daily trading momentum on the broader market, preferably above the 700 mln shares (turnover) mark, to sustain a bullish breakout above the formidable double-top resistance near 970 on the KLCI.
"Even if you are on the right track, you will get run over if you just sit there. " ~ Will Rogers.
Technical indicators for the KL Composite Index (CI) are pointing towards a bullish bias in the near term. The effect of rallies in the US and regional stock markets is filtering through to the local bourse. Strong August trade surplus and export numbers, coupled with the moderating inflation outlook given the slump in crude oil prices, have boosted market sentiment.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz was quoted as saying last week that inflation could average less than 3% next year if the price of crude oil continues to fall and the current economic conditions prevail. On the broader market, the positive market breadth and strong growth in trading volume, if sustained, will enhance bullish momentum for a breakout above the CI's formidable double-top of 970.
For next week, market would continue to focused on penny stocks. Index could trade in 967-973 range Monday as KLCI "found it tough even to reach 971 Friday.” More rangebound trade is expected next week as the market seems quite detached from the DJIA's record highs plus during Muslim fasting month, no major corporate developments expected.
Believe it or not!!! Fibonacci Projection Method suggested that "if KLCI could maintain above 970 next week", the next target would 1,002 point.
Trading always comes down to timing. What happens to traders who are terrible timers? Can traders who are poor timers ever succeed - especially in the currency market where ultra-high leverage and stop driven price action often forces margin calls? The answer is yes.
Some of the world's best traders, including market wizard Jim Rogers, are still able to succeed. Rogers - and his famous short trade in gold - is well worth examining in more detail. In 1980, when gold spiked to record highs on the back of double-digit inflation and geopolitical unrest, Rogers became convinced that market for the yellow metal was becoming manic. He knew that like all parabolic markets, the rise in gold could not continue indefinitely.
Unfortunately, as is so often the case with Rogers, he was early to the trade. He shorted gold at around $675 an ounce while the precious metal continued to rise all the way to $800. Most traders would not have been able to withstand such adverse price movement in their position, but Rogers - an astute student of the markets - knew that history was on his side and managed not only to hold on, but also to profit, eventually covering the short near $400 an ounce.
"Time is never wasted when you're wasted all the time." ~ Catherine Zandonella.
Share prices closed higher after the government released data showing a trade surplus for August of over RM10 bil with exports up almost 15 pct year-on-year, bolstering sentiment further in a market already initially upbeat after Wall Street's record-breaking performance overnight.
Malaysian central bank governor Zeti Akhtar Aziz said that inflation rate may trend below 3 pct next year provided additional support. The Kuala Lumpur Composite Index (KLCI) was up 4.83 points or 0.50 pct at 968.89.
Sentiment improved further on the government's report that Malaysia's exports grew 14.8 pct year-on-year in August to RM53.49 bil, after the rally on Wall Street lent momentum to the local bourse, which had been lackluster due to uncertainty about its near-term prospects.
Wall Street's rally on the back of a perception that the US Federal Reserve may cut its key interest rate next year played a bigger factor in the market's rebound. The effect from Wall Street is finally coming through, but perhaps more important is the perception by US traders that the Fed may cut interest rates next year following (Fed chairman Ben) Bernanke's remarks that the US housing market is in a slump.
However, it will take a stronger catalyst to push the market up on a more sustainable basis. The market would perform much better after the festive holidays, which are about three weeks away.
The market got a further boost today when central bank governor Zeti Aziz said that inflation rate could trend below 3.0 pct if current economic conditions prevail and oil prices continue to weaken.
SIMEENG (2992) Better bet on the pullback to 1.43/1.40 (Highly speculative/High Risk)
For 5/10/2006 the closing price was 1.47. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.55. The projected lower bound is: 1.40.
Business Activity> ENGR DESIGN AND FABRICATION OF OFFSHORE STRUCTURES FOR OIL & GAS INDUSTRY SYSTEMS INTEGRTION TRADING AND SRVCS BLDG AND CIVIL ENGR CONSTRUCTION
Recent News> SIME ENGINEERING AWARDED THAI POWER PLANT UPGRADE PROJECT - 03 Oct 2006 RAMUNIA CONFIRMS TALKS ON SALE TO SIME DARBY - 02 Oct 2006 SIME ENGINEERING BIDS FOR JOBS WORTH RM3BIL - 28 Sept 2006 RAMUNIA HOLDINGS DENIES THE STAR REPORT ON TAKEOVER BY SIME ENGINEERING - 27 Sept 2006 SIME ENGINEERNG AWARDED RM320M OIL PLATFORM PROJECT - 02 August 2006 SIME ENGINEERING AWARDED RM1 BIL. OIL & GAS PROJECT - 27 July 2006
RAMUNIA-PA (7206PA) If Resistance 0.80 Broken, Next Target is 0.85/0.90
For 5/10/2006 the closing price was 0.79. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.90. The projected lower bound is: 0.69.
PUNCAK (6807) Testing Immediate Resistance 2.95/3.00 Support 2.85/2.75
For 5/10/2006 the closing price was 2.8900. Overall, the bias in prices is: Upwards. The projected upper bound is: 3.02. The projected lower bound is: 2.77.
Business Activity > OPERATION MAINTENANCE CONSTRUCTION
Recent News > PUNCAK NIAGA UNITS TO SPEND A RM259M FOR INFRA UPGRADE - 22 Sept 2006 PUNCAK NIAGA ASKS FOR TARIFF HIKE - 26 July 2006
"If only God would give me some clear sign! Like making a large deposit in my name at a Swiss bank." ~ Woody Allen
Share prices closed lower today 4 Oct 2006, as investors remained on the sidelines, finding no fresh leads to counter uncertainty about the market's new prospects after yesterday's profit-taking.
Investors ignored Wall Street's record-breaking performance overnight, as sentiment remained weak after recent data showed loan growth in the banking sector slowed in August.
The Kuala Lumpur Composite Index (KLCI) dropped 3.50 points or 0.36 pct to close at 964.06.
But still, for today the CHAP AYAM INDICATOR filtered UTAMA, COSWAY & ASTRO-CA:
UTAMA (6831) Test 1.23 Resistance – Next Target 1.27
For 4/10/2006 the closing price was 1.19 Overall, the bias in prices is: Upwards. The projected upper bound is: 1.31. The projected lower bound is: 1.08. CUT LOSS: 1.14
Business Activity: INVESTMENT HLDG PROV OF MGMT SRVCS BANKING AND REALTED FINANCIAL SRVCS
Recent News: UTAMA BANKING REJECTS EPF OFFER FOR ITS RHB STAKE STAKE - 15 Sept 2006 UTAMA BANKING ON TAKEOVER OFFER FROM EPF FOR RHB BANK - 06 Jul 2006
COSWAY (4812) Test 1.19 Resistance – Next Target 1.23
For 4/10/2006 the closing price was 1.1400. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.24. The projected lower bound is: 1.05. CUT LOSS: 1.04
Business Activity MKTG & SELLING OF MULTI-BRANDED CONSUMER DURABLES ON CASH CREDIT EQUAL PAYMENT AND HP TERMS MFR SRVC & TRADING IN COMMERCIAL & RESIDENTIAL AIRCPN REFRIGERATION & RELATED EQPT
ASTRO-CA(5076-CA) Trading Play – Best Bet at 0.20 As for 4/10/2006 the closing price was 0.2100. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.25. The projected lower bound is: 0.17. Cut Loss: 0.19
"However beautiful the strategy, you should occasionally look at the results." ~ Winston Churchill
As for today Oct. 2, 2006 the share prices closed slightly higher in rangebound trade, with Digi.com leading the benchmark index into positive territory ahead of the company's capital repayment date. Digi.com recently set an October 16 entitlement date for its 0.60 rgt per share capital repayment.
The Kuala Lumpur Composite Index (KLCI) closed up 2.12 points or 0.22 pct at 969.67.
Apart from Digi.com, banking stocks also supported the market and the construction sector could resurface in the next few weeks. Prospects for financial stocks are better as interest rates have remained steady and will remain so for the time being.
Green Packet Bhd was up 0.20 rgt at 4.10 on follow-through buying after the company announced last week that it is raising new funds through a private placement of up to 40.40 mln new ordinary shares. Malaysia Airports Holdings was up 0.12 rgt at 2.17 on speculation the company will be taken private soon. Gamuda was down 0.04 rgt at 3.98 after announcing a fall in full year to July earnings. Ramunia Holdings was up 0.03 rgt at 1.27 after Sime Darby Bhd confirmed it is in talks to buy a majority stake in the company.
As for today, CHAP AYAM INDICATOR picked AMTEL, CAMRES and YGL:
AMTEL (7031) Immediate target 1.65/1.80. Support 1.55-1.57
For 2/10/2006 the closing price was 1.6000. Overall, the bias in prices is: Upwards. The projected upper bound is: 1.81. The projected lower bound is: 1.40. STOP LOSS: 1.40
Business Activity: INVESTMENT HLDG PROV OF MGMT SERVICES CONTRACTORS FOR INSTALLATION JOINTING AND TESTING OF UTILITIES TELECOMM AND FIBRE OPTIC CABLES AND ASSOCIATED CIVIL WORKS IMPORT AND DIST
CAMRES (7128) Best Bet at 0.29
For 2/10/2006 the closing price was 0.3000. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.33. The projected lower bound is: 0.27. STOP LOSS: 0.27
Business Activity: MFR & TRADING OF ALUMINIUM & STAINLESS STEEL KITCHEN WARE/SINKS AND STAINLESS STEEL KITCHEN KNIVES MFR & TRADING OF MELAMINE TABLE WARE SALE & DIST OF ALU AND STAINLESS STEEL KITCHEN WARE/SINKS
YGL (0086) Major support 0.77 to 0.80
For 2/10/2006 the closing price was 0.8550. Overall, the bias in prices is: Upwards. The projected upper bound is: 0.92. The projected lower bound is: 0.80. STOP LOSS: 0.70
Business Activity PROV OF CONSULTANCY SERVICES FOR ERP SOLUTIONS DEV OF SALES OF SOFTWARE SYSTEMS
Recent News: YGL CONVERGENCE ACQUIRES CHINA COMPUTER UNIT - 29 September 2006 YGL CONVERGENCE PROPOSED ACQUISITION OF SINGAPORE FIRM FOR SGD200K - 25 April 2006
... the TOMYAM RAW RESEARCH for 2 Oct. 2006 Cheers...
I'm a hardcore Technical Analysis Trader in the Malaysian stock-broking industry. This is a personal weblog, reflecting my personal views and not the views of anyone or any organization. THIS BLOG ALSO DEDICATED TO MY SUBSCRIBERS WHO HAVE ENCOURAGED ME AND TO THE THOUGHTFUL TRADERS WHO DESIRE TO FOLLOW PRACTICAL RULES FOR TRADING INSTEAD OF GUESSWORK AND GAMBLING METHODS.
"I always arrive late at the office, but I make up for it by leaving early." ~ Charles Lamb.
