ZLBT's Random Stock Pick >>> Keladi Maju Bhd (6769)

KELADI (6769) has confirmed a bullish "Ascending Triangle" pattern with a 1.5 sen single-day advance to 21.5 sen.

 

Ascending triangles have a distinct bullish bias in that the chart pattern depicts the convergence of a horizontal resistance and an upward sloping support line as compared to the "Pennant" formation.

 

More importantly, the upside volatility breakout of the 20.5 sen resistance line on KELADI's daily chart marks a bullish continuation of an uptrend that extends as far back as a year. We reckon that the bullish move should carry the share price higher towards 24.5 sen in the coming weeks, and traders may consider buying in between 20.5 sen and the current 21.5 sen level.

 

Correspondingly, a stop-loss of 18.5 sen should also be placed.

 

Technical Ratings

Resistance 2 : RM0.23

Resistance 1 : RM0.22

Current Price : RM0.215

Support 1 : RM0.205

Support 2 : RM0.195

Action : Buy

 

GOODLUCK

Top 20 Overbought Stocks 24 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

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