Jan 18, 2010

FBM KLCI technical analysis

fbm-klci-chart-2010-01

The FBM KLCI added 5.20 points  to close at 1,294.71, on positive investor sentiment. Resistance areas at 1,296 and 1,305 may cap market gains, whilst the obvious support areas for the FBM KLCI are located at 1,278 and 1,294. Due to the DJIA’s minor rise of 29.78 points, we expect the FBM KLCI to remain well bid today, with some obvious market rotational activities.

The FBM KLCI had undergone some profit-taking recently. However, the positive chart indicators may cause the index to push up towards the next key 1,305.09-resistance level in the near future.Nevertheless, with bearish divergent indicators, the FBM KLCI would have to endure persistent profit-taking activities.

Some stocks we like are: AEM, AIC, AIRPORT, ANNJOO, BJCORP,  BHS,  CHOOBEE,  COCOLND, DAYANG, DELLOYD,  DXN,  EG, ENG,  HARTA,  HSL, HUNZPTY, JOBST,  KIMHIN,  KKB,  LBALUM,  LBS, MASTEEL, MPI, MRCB,  NAIM,  PRDUREN,  PERSTIM,  SALCON,  SEAL, SSTEEL,  SUIWAH, SUNCRN, SUPERMX, SURIA, TOMYPAK, TOPGLOV and UNISEM.

source: Maybank Investment