As mentioned on my post few days ago, try to avoid the penny counters and the warrants which already pushed sky high. Today prove that I am right. Many penny counters and warrants like Mlab, Affin-wc, PJdev-wa, Abric-wa, LBAlum-wa, Silver-wa and many others lower liners are lossing more than 20% to 30%.
Although KLCL manages to push back to the positive zone but most of the lower liners are having a serious correction. We sold Annjoo as we expect the correction will continue tomorrow. We keep only the good fundamental counters like Maxis, Supermax and Mudajaya. Today market was very active but 1/4 of the volumes came from Maxis and many of them are selling activities.
As I said before we need to follow the Big Trend(FBMKLCI). If the Big Trend is in bad shape, we better stay away from the market.
Stocks to pay attention
Supermx - Immediate resistance is 3.97 and then 4.04. The support is 3.84. Closing is 3.92.
Warning: Stay side line or buy good fundamental stocks only
Our positions
Supermx +0.77% closing at 3.92
Mudajya +5.36% closing at 4.72
Maxis +8.4% closing at 5.42
Watch list
Airasia - Almost break out from the down trend channel. The resistance is 1.32 and the suppport is 1.27. Closing price is 1.31.
WCT - Had broke out from the decending trend line. RSI indicators above 50%. Immediate resistance is 2.70, 2.74 and the support is 2.60. Closing price is 2.68.
Adventa - Broke out the upper trend line today but it unable to sustain above the trend line due to the lower liners were having a heavy correction. The resistance is 2.26 and the support is around 2.08. Closing price is 2.23.
Waseong - Had broke from the Bolinger middle band, the immediate resistance is about 2.42 and the next resistance is at the double top 2.48. The support is at 2.34. Closing price is 2.41.
Counters with good earning result
Century - EPS up 185%, new PE is 7.95
PPEDANA - EPS up 111%, new PE is 12.34
YTLPower - EPS up 18%, new PE is 13.99
HSL - EPS up 41%, new PE is 12.04
