Sunday, May 27, 2007


KLCI ends almost flat at 1339.08, shedding only 1.9 points as bargain hunting helped benchmark recover from intraday low of 1319.75. Volume remained thin with decliners outpacing gainers 428 to 389. The sharp fall in U.S. stocks overnight and the subsequent decline in regional bourses spurred some heavy selling in early trade. Both local and foreign funds snapped-up some heavyweights and index-linked issues on price weakness. Expects jittery trade to persist next week with index tipped in 1320-1350 range.

Buy on dip. Next Potential Target 0.90. Cut loss 0.70.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 0.88.
The projected lower bound is: 0.68.


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