Today overall market was bearish biased. However it consider as a healthy correction as the volume decrease by about 25%. The investors chose to take profit or stay sideline after a 1-day moderate gain on most of the stocks yesterday. The FBM KLCI manage to stay above the Bolinger mid-band and the support level of 1270, it closed at 1272.35.
Most of the stocks I mentioned yesterday were under profit taking today except KPJ continues its up trend momentum. Mudajya and WCT have a small gain, while rest are having a minor correction.
New stocks to watch
3A - This stock shows some trend as the price and the volume were increasing today. The immediate resistance is 1.48. I saw a very strong resistance above 1.48 to 1.69. Watch for higher buying volume grows in the next few days. Otherwise it is just a normal rebound after it has been sold off for many days. Put it in your watch list.
Notion - The volume gradually increase for the last 3 days with the price follow the volume trend. Watch for break out the resistance at 2.75 and 2.85. Once it broke the resistance 2.85 and sustain above it, very high chances it will continue its up trend.
