May 1, 2010

Cahaya Mata Sarawak - Technical Rebound

Cahaya Mata Sarawak Berhad (stock code 2852) had on 29/4/2010 traded higher to a day  high of RM2.53 after making a lower low of RM2.41 before settled at RM2.50.

Price Direction ….. 
In view of  a decrease  in market participation, the stock could be expected to trade sideways in coming day(s) with an support pegged at RM2.30. 

What to watch for …. 
A turnaround of prices to close above RM2.70 level would likely see an immediate short term reversing direction in the stock.

cahayamata-sarawakabove daily chart: click to enlarge

by Mercury Securities

The Group is principally engaged in cement and steel manufacturing,construction and quarry operations, road maintenance, banking, stockbroking and related financial services, property development and trading. Country: Malaysia..