The market regain strength after the overnight Dow Jone Industry Index rose more than 1%. The regional markets as well as local market are in positive zone in the morning. FBM KLCI had penetrated the resistance 1270 but retreated at the mid-day closing. No doubt FBM KLCI still stay below 1270, the overall market is looking better in the morning session. Total gainers are 345 vs the losers 183. The trading volume is improving for the mid-day with 513 million shares exchanged.
A few counters retest the previous resistance. Please refer to the older charts in this Blog for reference.
Supermx - up 3.11%, retest the resistance 4.01
Adventa - up 3.59%, trend line resistance broken again and close at 2.31. Looking to test 2.42 soon.
Sapcres - up 2.20%, short term resistance 2.31 just broken and closed at 2.32. Look to rise higher however looking backward, they are still many investors stuck above 2.32 in July 2007. So we need a huge volume to overcome that in order for the trend to continue.
