Bursa Malaysia Stock Watch
JCY- a stock to watch
kltrader
Publish date: Wed, 24 Mar 2010, 10:12 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
The market saw strong rally among the rubber glove manufacturers, semi-conductor assemblers & hard-drive component producers. A few stocks surpassed their recent high & charged higher, such as Topglove, Supermx, Unisem, Gtronic & Eng. Others broke above their short-term downtrend line & rallied, such as Lityan & Penta. The play on technology stocks has even ignited interests in Time.com, which broke above its strong horizontal resistance at RM0.45-46. Its next resistance is at RM0.55-56. See Chart 1 below.
Chart 1: Time.com's weekly chart as at Mar 24, 2010 (Source: Quickcharts)
The stock that we should be watching is JCY, the newly-listed giant hard-drive component manufacturer. This stock broke above its horizontal resistance at RM1.64-65 today. It gained 8 sen to close at RM1.68. I believe JCY will participate in the on-going play among technology stocks.
Chart 2: JCY's 30-min chart as at Mar 24, 2010 (Source: Quickcharts)
Chart 1: Time.com's weekly chart as at Mar 24, 2010 (Source: Quickcharts)
The stock that we should be watching is JCY, the newly-listed giant hard-drive component manufacturer. This stock broke above its horizontal resistance at RM1.64-65 today. It gained 8 sen to close at RM1.68. I believe JCY will participate in the on-going play among technology stocks.
Chart 2: JCY's 30-min chart as at Mar 24, 2010 (Source: Quickcharts)
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