The overall market continues its correction and consolidation today. The market’s trading volume further retreated in the mid-day. That's mean most of the investors are staying sideline and waiting for a clearer signal. We don't expect the market to rebound today without any positive news. However we also don't believe the market will collapse anytime soon, it will stay consolidate for a while. Anyhow, there are still many individual potential stocks we can look for.
Measat - If you follow my Blog so far, you will remember I spotted Measat on 26/11. After a 1-day big gain, the investors started to take profit as the Dubai World crisis happen and the market was big downed on the next trading day. This had stopped Measat's price to go higher. Today Measat come back to break the resistance 1.93 and sustain above in the mid-day. The stock price advanced 9.94%. We saw some resistance at 2.00.
Adventa - Still bullish bias after a minor profit taking yesterday. For the price to grow further, we need to see more buying volume. I don't think it can makes it today as the market sentiment is bearish. The price advanced 0.84% for the mid-day.
Sapcres - Still under correction and consolidation. It has a strong support at 2.25. If broke down 2.25, the next support will be 2.20. The price retreated 1.31%. We saw a bearish divergence on this stock, if it unable to hold at 2.25, the best way is to exit first.
Notion - This morning broke out 2.75 but it unable to sustain with limited trading volume. Keep monitor. The price retreated 0.37 for the mid-day.
KPJ - Price continue to advance in the early morning but retreated to close unchanged. I didn’t see any bearish divergence signal yet. Keep holding if you bought this stock.
Genting - I mentioned this stock 2 days ago, it had broke out the trend line at 7.24. The technical position looks very good now. I expect to see a slow and steady up trend but not a big up daily. Price advanced 1.66%.
Hiaptek - It regains some strength, keep monitor. Price advanced 1.38%. Need volume to come in.
You will noticed I did not mention any penny stocks less than RM1.oo since last week, this is because the market is getting higher risk now. You will notice many penny stocks played rotationally, some only one-day show and never come back. So the chances of losing more money in penny stock is higher that holding a good stock when the market crash suddenly.
