ZLBT Random Stock Pick >>> AZRB (7078)

Technical Comments: Due to overbought technical momentum, any further rally on AZRB towards RM1.10 (14/2/12 peak) or higher should encourage selling prior to profit-taking correction ahead, while retracement supports are at RM1.03 (76.4%FR) and 96sen (61.8%FR).

AZRB (7078)

As of 16 July 2013, AZRB has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. In addition, the price just broke the resistance of 1.08 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout. HAPPY TRENDING

FBM KLCI Futures Preview, Technical Analysis 11 July 2013

Preview

Expect futures to trend higher today despite minimal gains in the US market overnight as local sentiments may look towards bullish signals due to encouraging announcement by the Federal Reserve Chairman.

Bernanke’s comments that the Feds will continue its bond buying activities up till the labour market show significance improvement may correlate easing concern of a slowdown in growth in the world biggest economist.

Back home, FBMKLCI gained 0.13 percent to settle at 1768.71. The index traded range bound with an upward bias for most part of the day as sentiments borrowed strength from gains in the US, spurred by better expectations of earning results. Adversely, the upside potential was limited as investors factored in weak external trade data from China, which was made available on the second half of the trading session.

Leading leaders of the index were a mixture of gaming, plantation and telecommunication counters namely Genting, IOI and Maxis. Futures still maintain trading at a premium of approximately 1.5 points from its underlying cash market.

Technicals

Futures settled on a positive note with gains of 0.06 percent to close the day at 1770. Trading was depicted in the formation of a short bodied black candle signalling that sellers managed to outpace buyers for most part of the day. Sentiments remained generally bullish as prices still remains supported at its 20 and 50 day moving averages.

Prices may open lower but if prices managed to break above its 1770 in early morning trades, investors may opt to go long taking advantage of an upward movement in prices. As such support and resistance can be pegged at 1765 and 1780 respectively.

Intraday Strategy

Trade may long with a stop on or below 1760.

FBM KLCI Futures >>> Daily Preview, Technical Analysis

Preview

 Expect futures to trade range bound with an upward bias in tandem with rising Asian and European markets after European policy makers communicated that they will maintain interest rates at a record low for an extended period of time to stimulate further growth. US market was closed last night in conjunction with the Independence Day holiday. Jobless claims figures due to release later tonight will be closely watched for indication of economic strength.

In the local front, FBM KLCI gained 0.12 points to settle at 1771.34. The local index managed to post some gains in tandem with advances in most global markets, albeit lackluster trades.

Leading leaders were stocks from the plantation and banking industries, namely Kuala Lumpur Kepong, IOI Corp, CIMB, Maybank, Public Bank, and Hong Leong Bank. Futures now trade at a further premium of approximately 4 points away its underlying cash index.

Technicals
Futures prices hiked 0.31 percent to close at 1775.50. Trading activities formed a white spinning top, a depiction of indecisiveness amongst investors. Regardless, prices still managed to close firmly above its 20, 50, and 100 day moving averages, which imply that strength was still in tact. Hence, expect prices to further its bullish movement today as MACD indicator pointed towards a buy strategy as well.

Support and resistance can be eyed at 1765 and 1785 respectively.

Strategy

Traders may long with a stop on or below 1765.

FBMKLCI >>> The Moving Averages & Fibonacci Retracement %

The bulls live above the 200; below that, the bears

Most technical momentum indicators for the FBMKLCI stay bearish amid weak buying

momentum, blue chips are likely to extend low-volume consolidation as the end of the month

approaches. However, rotational trading plays on lower liners and small-cap stocks are

noticed to pick up and attract speculative retail interest, hence trading momentum is likely to

switch focus to the broader lower tier counters, as blue chips extend consolidation.

Technically,  immediate upside hurdle remains at the 200-day moving average currently

residing at 1,635, with next resistance at 1,643 and 1,644, the respective 50 and 100-day

moving averages, and stronger resistance at 1,658, the 23.6% Fibonacci Retracement (FR) of

the 1,526 low of May 2012 to the 1,699 record high of Jan 2013. Immediate support is

downgraded to 1,613, the 50%FR, with 1,599 and 1,592, the 61.8%FR, acting as stronger

support platforms.

In a nutshell, the FBMKLCI ain't going nowhere higher until the prices can break above the 200 MA or 1635.00 resistance whereby the FKLI will most probably be in premium versus the cash index.

GOOD LUCK

02 Nov 2012 Wall Street Rallys on Job News

GOOD START TO NOVEMBER: The Dow Jones industrial average rose 136.16 points  (+1.04%) on the first day of November, its best gain since mid-September. That came after a loss in October, the first down month since May.

CONFIDENT CONSUMERS: The Conference Board said Americans' confidence in the economy surged last month to the highest level in nearly five years. Many were encouraged by an improving job market.

JOBS NEWS: Investors got a twin dose of good news on the jobs market. Claims for unemployment benefits fell last week, and payroll processor ADP reported that private companies added more jobs last month than economists had been expecting.

HAPPY TRENDING

Technical Analysis FBMKLCI 25 Oct 2012

 

Additional Volume Vital To Sustain Breakout

As shown in the chart,  the FBMKLCI successfully closed above 1670.16, making a historical closing high at 1671.89 points, gaining 3.9 points. The SMA 20-day remains its dynamic support for immediate term. Since the FBMKLCI is closing at its historical high, there is no reliable resistance for now. No man's land is unknown territory.

 

As indicated by the 50-day Volume Moving Average, total market volume increased 27.2%, with 31,440,328,900 shares traded. Market sentiments should remain optimistic if daily traded volume stays  above the 50-day VMA. Generally, the active market participation is likely to sustain the improving market sentiment.

 

The daily Stochastic stays above 70%, in its short-term bullish territory, suggesting that the short-term movement of the FBMKLCI is still positive.

 

In conclusion, despite the US market closing at recent month lows, the FBMKLCI marks its historical new high. Technically, the technical outlook for the FBMKLCI remains positive, as it is still supported by the rising 14, 21, 31 EMA dynamic support (not included in this chart).

 

HAPPY HOLIDAYS

 

SELAMAT HARI RAYA AIDILADHA

daripada ZLBT

Wall Street : Dow Rally for 2nd day on strong Earnings Data

DOW'S BEST DAY SINCE QE3
Thanks to some upbeat news on the earnings front, the Dow Jones Industrial Average (DJIA) secured a triple-digit gain within the first hour of the session, and remained firmly planted above the 13,525 level throughout most of the day. This is the best performance since the introduction of QE3.

The Dow Jones Industrial Average (DJI – 13,551.78) tagged an intraday peak of 13,556.37 before pulling back slightly to close 127.55 points, or 0.95%, higher. Only five of the 30 Dow components ended in the red today, with UnitedHealth Group Inc.'s (NYSE:UNH) 1.1% decline leading the handful of laggards. On the other side of the fence, Intel Corporation (NASDAQ:INTC) paced the advancers with a rise of 2.9%. Meanwhile, General Electric Company (NYSE:GE) remained unchanged.

The S&P 500 Index (SPX – 1,454.92) and Nasdaq Composite (COMP – 3,101.17) both headed north early in the session and notched solid wins by the time the dust settled. The SPX tacked on 14.79 points, or 1.03%, while the COMP added 36.99 points, or 1.21%.

 

The CBOE Market Volatility Index (VIX – 15.21) edged 0.05 point, or 0.33%, lower today, breaching its 20-day moving average for the first time in over a week.

 

HAPPY TRENDING

ZLBT Random Stock Pick >>> AMEDIA (0159) 15 Oct 2012

TIME FOR SOUND REBOUND

AMEDIA (0159)

Technically, it is not looking good for AMEDIA as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line. The recent downward movement in price has brought us to the technically important level of 0.35. Failure to find support at this level may accentuate the bearish move. The RSI indicator is giving a reading in the oversold region. This may indicate the price decline may be over-extended. The price and volume action at the 0.350 >>>0.335 support levels is to be monitored carefully.   WARNING There are no fundamentals involved here. AMEDIA 0159 is based solely on technicals Readers are reminded to consider the obvious before entering this stock.   GOODLUCK

DJIA >>> Technical Analysis 15 Oct 2012

A Technical Rebound Overdue

 The Dow closed slightly higher on Friday as it consolidates some of this week's decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the June-July uptrend line crossing near 13,317 would confirm a trend change has taken place. Closes above the 20-day moving average crossing at 13,497 are needed to confirm that a short-term low has been posted.

 First resistance is the 20-day moving average crossing at 13,497.

Second resistance is last Friday's high crossing at 13,661.

First support is today's low crossing at 13,296.

Second support is September's low crossing near 12,977.

HAPPY TRENDING

Bears roam Wall Street as anxities hit investors prior to earnings season

Dow Sheds 110 Amid Earnings Anxiety and Tech-Sector Woes

As the Dow Jones Industrial Average (DJI – 13,473.53) dove roughly 110.3 points just minutes before the closing bell, the index finished slightly higher than its session low. On the day, the Dow lost 110.12 points, or 0.81%, finishing below its 10- and 20-day moving averages for the first time since September 5. All but three of the 30 blue chips ended in negative territory, as Intel Corporation's analysts-related dip of 2.7% paced the losing issues. On the other hand, McDonald's Corporation (NYSE:MCD) led the winners with a 0.6% rise.

The S&P 500 Index (SPX – 1,441.48) ripped back 14.4 points, or 0.99%, closing below its 20-day moving average for the first time in a nearly a week. The broad-market barometer also notched a close below its 10-week trendline for the first time since June 22.

 

The Nasdaq Composite (COMP – 3,065.02) turned in the worst performance of its fellow benchmarks, sawing off 47.33 points, or 1.52%, finding its lowest daily settlement since August 30. The tech-rich COMP also notched a close below its 10-week trendline for the first time since June 22.

 

The CBOE Market Volatility Index (VIX – 16.37) gained 1.3 points, or 8.3%, to find a foothold at its loftiest price since September 26, though the 80-day moving average hovers above.

 

GOODLUCK2ALL