Saturday, July 30, 2005

Weekly Analysis

From my charts, it looks like KLSE is heading for a correction. Last few days up was just to dress up the index. Most probably it will stop sliding at 920. Historically, the index should make a 50% correction which puts it at 900.

Many stocks are push and dump. They dun usually survive T+3. Stocks that breaks new grounds (Mems) are too risky to buy as the daily indicator is overbought.

TA is in corrective mode. 3 Aug is the ex-date for the 5% dividend. Will it be push up?
Sumatec - Alamak, bad bet. It is still sliding down. Support at 0.63.
L&G - No clear signal that it will make a move. Better wait for breakout before buying.
FTEC - This is the only light I see. Slowly inching up. 0.245 is the support. Mmm....maybe buy with stop at 0.24. Try my luck.

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