KLCI ended +0.5% at 1277.48 in moderate volume of 1.73 billion shares as profit-taking from yesterday's 1.2% gains capped benchmark's rise. Market spread remained negative throughout the day with little follow through buying but last hour gains in government-linked stocks and select heavyweights helped to lift benchmark into positive territory. The KLCI has a reasonable chance of rising to test 1285.15 (year high) tomorrow but pre-weekend selling is likely to narrow gains.
Resistance Breakout. Potential Target 2.45
For 5/4/2007 the closing price was 2.2500.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 2.45.
The projected lower bound is: 2.10. (Stop Loss Point)
TOMYAM SHOPPING LIST
AYAM TALK TODAY:
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- CPO Futures Down, But L/T Uptrend Seen Intact
- Land & General's Charts Point To More Weakness
- SKP Resources Down 4.9%; Support At 18 Sen
- Hunza Properties May Hit MYR2.50 - OSK
- MIMB Has Strong Buy On Puncak Niaga
- TA Keeps Buy On Proton; MYR7.50 Target
- Matsushita Electric Begins Producing LCD TVs In Malaysia
- Macquarie Ups BCHB Target 12.1% To MYR10.20
- K&N Starts Selangor Dredging With Buy Rating
- Perisai Up On Qatar Job;But Valuation Rich-TA
- Bonia Only Tad Higher On Bonus, Stock Split Plan