The table below is a compilation of actively traded stocks with their stop-loss, support and upside targets together with some popular technical indicators. Stock name in bold represents stocks that are expected to attract momentum trading plays and hence encourage retail or short-term trading participation. Share price in bold reflects revised stop-loss, support and upside targets. Recommendation (REC) in bold indicates changes to recent technical calls.
Comments: Continue to SELL banking stocks AMMB and BCHB which are likely to suffer further losses despite holding well yesterday. Similarly, blue chips Sime Darby and Tenaga should also weaken with foreign selling likely to intensify. On the other hand, look to Buy on Sharp Dip Maybank and Public Bank nearer to their crucial retracement supports of RM3.70 and RM6.50 respectively for technical rebound gains. A sharp dip towards RM2.00 on TMI may also attract bargain hunters looking for an oversold rebound.
HAPPY TRADING
Wednesday, March 18, 2009
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