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.
Sunday, June 10, 2007
Rebound reeeeebouuuundd reeeee
I think, KLCI may bounce-off 1351 (30-day moving average) and rebound on bargain hunting next week to around 1360 after shedding 0.9% to close at 1352.39 on Wall Street slump overnight but dealers caution profit-taking into strength may keep benchmark within tight range. Concerns over inflation and a potential rate hike in the U.S. weighed on market sentiment but some bargain hunting activity was evident. Investors will continue to look at the performance of U.S. and China stocks but any weakness in share prices could be an opportunity to accumulate, esp oil & gas sector, plantation stocks and government-linked construction stocks.
SUNWAY I think, buy on deep lah. Support 1.35. Overall, the bias in prices is: Upwards. Short term: Prices are moving. The projected upper bound is: 1.69. The projected lower bound is: 1.34.