Bursa Malaysia Stock Watch
HLIB Research - 14 March 2012
kltrader
Publish date: Wed, 14 Mar 2012, 11:05 AM
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.
KLCI: Technical rebound amid a surgeon Dow overnight
- Tracking the rallies from Wall St and European markets, KLCI is likelyto post a technical rebound today.
- Unless the KLCI is able to close above the pivot highs of the blackcandles recorded on 12 March (1580) and 7 Mar (1585) in the next few days, wereiterate our cautious view on the market.
- Immediate key supports are the uptrend line (UTL) or 30-d SMA near 1559and 16 Feb's low of 1549 whilst immediate resistance is 1594 (5 Mar high) and1597 (historical high).
MMHE: Technical rebound in thepipeline
- Since plunging from 52-wk high of RM8.82 in June 11 to a low of RM5.01in Oct 11, MMHE is building its base in past five months before closing atRM5.36 yesterday. Daily technical readings are slowly on the mend and apositive breakout above the downtrend line near RM5.40 will spur prices highertowards RM5.47 (50-d SMA) and subsequently to retest the 100-d SMA of RM5.64.Significant resistance zones are RM5.90-6.00. Supports are RM5.20-5.25. Cutloss below RM5.18.
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