KLCI manages to push back to the green zone at the closing however the market is consider as a selling day as there were 438 losers vs 251 gainers. Immediate resistance is 1280 and the support is 1263. We had exited the market and sideline until tomorrow. If there is nothing wrong we will re-enter the market again.
We had spotted 4 new stocks for you to pay attention on them.
ANNJOO - Broke out of the ascending triangle and hits 54 months new high. The immediate support is 2.78 to 2.75. Good entry point if it ables to sustain above 2.78 with reasonable volume. We also need to ensure the regional and local markets are not in the serious correction before we made the decision.
DAYANG - Broke out the resistance 1.46 and the upper trend line with opened gap up this morning. It now hits 58 months new high at 1.48. The immediate support is 1.42 to 1.46. Good entry point if it ables to sustain above 1.46 with reasonable volume. However we need to ensure the regional and local markets are not in the serious correction before we made the decision.
TCHONG -Broke the resistance 2.50 and hits new high with volume increase. Good entry point above 2.53. Same as the rest, you need to ensure there is no major correction before you made the decision.
SAPCRES - Close to break out the ascending triangle. Good entry point if it ables to break and sustain above 2,31 with volume more than 40 days moving average. The closing price is 2.25. Just pay more attention on this counter.
For the case study on technical analysis on the above 4 counters, please visit the other Blog by clicking the link called Analyze the Chart Pattern on the right side. I will place the pictures on tomorrow onward.
Our holding - None
Other stocks to watch
WCT
SUCCESS
PARKSON
GENP
SSTEEL
WCT-WB
ANNJOO-WB
