Today KLCI closed at 1271.12 (-4.1pts, -0.32%) with 383 up counters and 251 down counters. The Bollinger band contracted 2% but still stays above middle band (1266). RSI stays at 54, STC %K retract to 78, MOM still above zero. The MACD histogram still formed round bottom and crossed above triggering line but flatten slightly. The traded volume does increased marginally by 1.8% to 58s.476mil but still below the average traded volume of about 823mil. The immediate support level is Bollinger middle band (1266 today). With mixed indicators, the market seems enter correction but the uptrend still intact.
In the weekly chart analysis, KLCI closed at 1271 today with the Bollinger band contracted 2% but the immediate support level still at Bollinger middle band at 1266. This indicates that the market still in consolidation stage. We are still looking forward for KLCI to close above 1274 with expended Bollinger band on the last trading day of 2009. Otherwise, we shall review the analysis once KLCI closed below 1266.
WATCH LIST:
INSAS (3379):
Insas Berhad is a Malaysia-based company engaged in investment holding and provision of management services. The Company and its subsidiaries are engaged in trading of alcoholic and non-alcoholic beverages; investment holding, investment trading and investment and rental of properties; production of wireless microwave telecommunication products, wireless broadcast card and to provide electronic manufacturing services; construction, landscaping renovation and other related works, and credit, leasing and other related financing activities. The Company operates under five segments: financial services and credit leasing; property investment and development; investment holding and trading; retail trading and car rental, and information technology and related services. Its subsidiaries include Cellar-One Sdn Bhd, Contibina Sdn Bhd, Dellmax Worldwide Sdn Bhd, Desa Juara Sdn Bhd and Inari Technology Sdn Bhd. On July 1, 2008, the Company sold Gleneagles Hospital (Kuala Lumpur) Sdn Bhd.
This counter broke up 0.590 resistant and now retesting the 0.590 as support line. Should 0.590 not supported, the secondary support is Bollinger middle band at 0.570 now. We shall review again once the Bollinger band is not supported. Also imply that 0.570 should be the cut lost level.
E&O (3417): After 3 days of consolidation, this counter finally break out of the triangle tip with Bollinger band expended 43% upward and closed at 1.05. The near term resistances are 1.09/1.16/1.23.
The Wimax group kickoffs the rally after consolidating for almost two months. They are GHLSYS, GPACKET & -WA, REDTONE, YTLE.
LBS & -WA’s uptrend still intact. Uptrend may stop once it closed red that day and may lead to correction.
Both Adventa & Supermx still steadily advancing, the uptrend still intact;
