Wednesday, 21 March 2012

KLSE Stock Watch for 21 March 2012

The overall rate of participation in the local market can be consider fair, as we saw much action coming into the market on the 2nd session of the day, which is after a slightly stagnant morning session. Significant movers like Nicorp and Gamuda had been the highlight for the second session altogether, while Aglobal had been unpopular for its plunge down from a peak of 14.5 cents and close at 10 cents with 164 million shares exchanged in hand.

As of today, European leading index had been inching lower, could be due to a correction after a series of bullish moment, while I am looking at the DJIA lingering 13167, which is down by 71 points at the moment.

It had been rather laggard in the KLSE, as there hadn't been much significant action taking in while retailer are safe guarding their position as fence sitter, except for a few penny stock which was heavily traded. While many are expecting the KLCI to touch 1600 as DJIA had penetrated into the 13000 in a convincing manner, our KLCI had ended at 4 points higher at 1577.62.

What could be the play for tomorrow? Is Malaysian market slower to response, where we will need 2 to 3 days to catch back what others had gone through? Haha. Who knows? We are in Malaysia, and everything is possible under the roof of Malaysia.

Let's have a quick look on what I think could be interesting for tomorrow.

1.) Keywest - A stunning counter in the recent days as we can see that there had been strong accumulation of shares at any price in the range of 21 to 22 cents. As the volume and price starts to consolidate, be informed of a higher peak in the coming days, where Keywest will be poised to test RM 0.25 to RM 0.275.

2.) GreenYB - As GreenYB will be awaiting for an anticipated better quarterly result in the coming days, the current outlook for GreenYB is just handsome enough to see it breaking RM 0.26, and sailing towards a possible mark of 30 cents in the coming days ahead as the next upcoming volume spike comes into the play.

3.) Dijacor - After a series of high profile news, Dijacor took a plunge from a high of RM 1.72 to RM 1.30. As of today, we had saw a doji formation at RM 1.30, which also resemble a good support for Dijacor before the speculative news that had took hold of the market, in a rather oversold manner, we could be looking for a good rebound towards RM 1.40 in the coming day.

4.) BKoon - A counter that had been hard and stubbornly manipulated/controlled, making trader or investor to think twice before entering. However, Bkoon should be almost be in a good position for a turnaround in their share prices soon as the general election is getting nearer, which will indirectly motivate the release of material news. Highly linked with the controlling party behind Bertam, this could be a star when it is on a firing up mode.

Cheers and have a nice day.

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