20050926 Technical Outlook JetFM
Technical Outlook ( 26/9/2005 ) by Jupiter Research
It was just another same day. CI fluctuated in a very tight trading range. CI went up to an intraday high of 923.18 before settled at 921.89.
With Budget Day around the corner, we may begin to see some market play actions in the CI to go near 930-level in next few days; trading activities from the investment fund side are expected to pick up.
For Monday market, Pivot Profit methodology indicates that the 1st and 2nd resistance levels will be 923.15 & 924.40. 1st and 2nd support levels will be 920.67 & 919.44.
Chart wise: CI is seen trying very hard to keep itself afloat around the present level, waiting for some leads from the market to break above 930-level.
Technical wise: MACD still in negative territory. Directional Movement Index shows that +DMI is above the -DMI; but both +DMI and -DMI together with ADX are pointing southward.
On Stochastic indicator, both %K line & %D line is already one step into the overbought zone.
Our stock recommendations for today are:
New Straits Times (Trading Buy) at RM3.12with stop loss at RM3.00
Astino (Trading Buy) at 61 sen with a stop loss at 54.5 sen
OilCorp (Trading Buy) at 63 sen with a stop loss at 58 sen
It was just another same day. CI fluctuated in a very tight trading range. CI went up to an intraday high of 923.18 before settled at 921.89.
With Budget Day around the corner, we may begin to see some market play actions in the CI to go near 930-level in next few days; trading activities from the investment fund side are expected to pick up.
For Monday market, Pivot Profit methodology indicates that the 1st and 2nd resistance levels will be 923.15 & 924.40. 1st and 2nd support levels will be 920.67 & 919.44.
Chart wise: CI is seen trying very hard to keep itself afloat around the present level, waiting for some leads from the market to break above 930-level.
Technical wise: MACD still in negative territory. Directional Movement Index shows that +DMI is above the -DMI; but both +DMI and -DMI together with ADX are pointing southward.
On Stochastic indicator, both %K line & %D line is already one step into the overbought zone.
Our stock recommendations for today are:
New Straits Times (Trading Buy) at RM3.12with stop loss at RM3.00
Astino (Trading Buy) at 61 sen with a stop loss at 54.5 sen
OilCorp (Trading Buy) at 63 sen with a stop loss at 58 sen
posted by emacro @ 12:54 AM
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