ZLBT Random Stock Pick : Top 20 Overbought Stocks 03 Dec 2012

*Note: The list below is the 20 most overbought of the 1000 over Bursa Malaysia listed stocks with 14-day RSI above 80. It is generally a bearish or SELL list, especially if the readings approach 90.

Caveat: The list consists of fundamentally sound stocks, and hence are long-term

BUY or HOLD stocks.

DISCLAIMER

The information contained herein was obtained from sources believed to be reliable. However, we do not guarantee the accuracy and completeness of the report. Opinions expressed herein are subject to change without notice. This report is for information purposes only and should not be construed as an invitation, offer or solicitation to purchase or sell any futures product referred to herein. The Author may from time to time has an interest or position in the futures products or stocks mentioned. There is a risk of loss in trading stocks,futures & derivatives like products.

 

GOODLUCK

Random Stocks Charts RESORTS WORLD SINOHUAAN

HAPPY TRADING FOLKS!!!

Technical Stock Picks Compilation Table

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 encourageretail 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: Maintain SELL call on banking stocks AMMB and Maybank and switch to Buy on Dip Gamuda and IJM Corp towards the 30-day SMA or lower Bollinger band for better leverage on a rebound. The immediate supports of Genting and KNM are revised lower to RM3.40 and 39sen respectively due to buyers’ strike, while revert to Sell TM given the strong chart resistance from the upper Bollinger band and 200-day SMA.