KLCI ends down 0.3% at 1350.84 in thin volume on persistent profit-taking as recent price movements suggest market entering correction phase. Market breadth negative with decliners outpacing gainers 583 to 288. Concerns over Transmile's accounting practices provided the ideal excuse for profit-taking in blue chips (after market peaked at all time high of 1368.87 yesterday). Some caution also ahead of Fed's interest rate policy meet later today. KLCI tipped in 1345-1360 range tomorrow with possibility of mild bargain hunting in blue chips, construction, consumer and plantation stocks.
LBS
Buy on dips. Support 0.95 (Watch the support level closely).
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 1.11.
The projected lower bound is: 0.90.
SAPCRES-WA
Set to test resistance level 1.15
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 1.25.
The projected lower bound is: 0.88.
TOMYAM SHOPPING LIST
TODAY AYAM TALK
- Buy MRCB On Dips For Rebound To MYR2.50 - TA SEC
- Wellington 5.5% Stake Buy Doesn't Impact AirAsia
- MMC, AmResearch Keeps On Buy, Tgt MYR10
- Malaysia Rate Cuts Likely In 2H07 - HSBC
- OSK Says KLCI Has More Upside; Targets 1500
- Nexnews To Be Privatized At MYR1.27/Share
- Mobif May Retreat; New Share Listing Thu
- ECMLibra Cuts Transmile To Hold; Keeps MYR15 Tgt
- Ornasteel; OSK Keeps As Buy, Tgt MYR2.06
- UAC On Boustead's MYR4.85 VGO
- TIME dotCom Up, Renewed DiGi Speculation
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