Tuesday, April 24, 2007


KLCI ends down 0.3% at 1317.50 in thin volume of 1.46 billion shares, weighed down by profit-taking in blue chips and most heavyweights. Market breadth mixed; decliners beat gainers 454 to 417. Sell-off triggered by weaker U.S. stocks overnight, higher crude oil prices, lack of positive catalysts on local corporate front. KLCI tipped in 1300-1320 range Wednesday with downside bias as investors unwind positions ahead of national holiday Thursday. Investors are likely to sell into strength tomorrow as they would be reluctant to hold open positions over the holiday.

Breakout Resistance. Next Target 6.00

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 5.96.
The projected lower bound is: 5.27.


  • PNB To Buy Rest Of Island & Peninsular; MYR2.35/Shr
  • Sell Country Heights On Rally-TA Securities
  • ECMLibra Starts Supermax With Buy, Tgt MYR3.18
  • OSK Keeps Buy On Pantech, With MYR2.73 Target
  • OSK Keeps Tek Seng At Buy, 63 Sen Target
  • GPA A Sell Based On Charts - MIMB
  • S&P Keeps MBFH At Sell, Cuts Tgt To 55 Sen
  • K&N Cuts Reliance To Hold, Target To MYR2.56
  • Guocoland May Breach MYR1.80; Tgts MYR2-Charts - OSK
  • Rohas-Euco Up On MYR1.80/Share Offer
  • TA Keeps Buy On Green Packet, Tgt MYR6.40
  • JPM Targets USD/MYR At 3.3 By Year End
  • TA Securities Starts WTK As Buy, MYR11.90 Target
  • CS Keeps Muhibbah Outperform;Ups Tgt To MYR6.95
  • GPerak May Fall Defaults On RCSN Coupon


No comments: