May 31, 2012

KLCCP – Short-term Buy (technical)

KLCCP– MYR3.71    (Stock Code: 5089)


above: KLCCP daily chart (click to enlarge)

KLCCP  made a major daily Wave 4 low of MYR3.19 (on 19 Mar 2012) with grossly oversold and bullish signals. All its chart indicators are firmly supportive of further upside. This stock will break into higher territory in due course as it breached its key resistance areas recently.

SHORT-TERM BUY (TECHNICAL)  on dips for  KLCCP,  with very firm support areas at MYR3.37 and MYR3.71. The upside target areas are at MYR4.08 and MYR4.67. Stop-loss is at MYR3.35.

KLCC Property Holdings Berhad (KLCCP)  is an investment holding company. The company, through its subsidiaries, operates in property investment, facility management, car park operation  management, and hotels.

by Maybank IB