Chart 1: FBMKLCI's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
Chart 1: FBMEmas's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
Tuesday, November 06, 2012
Market Outlook as at November 6, 2012
Our market is getting ready for next week, which will be a short 3-day trading week. With the index down 6 points as at 10.40am, it looks likely that FBMKLCI & FBMEMas may test its uptrend line at 1630 & 11060, respectively. That is slightly below the 100-day EMA line for FBMKLCI & FBMEMas at 1633 & 11130, respectively. These supports should arrest the fall in the market and provide an opportunity for those looking to position themselves for a possible year-end rally.
Chart 1: FBMKLCI's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
Chart 1: FBMEmas's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
Chart 1: FBMKLCI's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
Chart 1: FBMEmas's daily chart as at Nov 6, 2012_10.20am (Source: Quickcharts)
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4 comments:
Hi Alex, any comment in Suria Capital Holdings? It it an attractive stock with low valuation.
Good time to buy before Dec rally?
Hi Stanley
Suria is in sideway movement with resistance at RM1.65 & support at RM1.45.
With full-year EPS of about 20 sen, Suria is trading at a PE of 7.2 times. Dividend yield is about 4.1%. In term of valuation, it is fairly reasonable, even attractive.
On that basis, the stock is good for long-term investment.
Hi Ivan,
Yes, it could be a good entry as the market pulls back to the uptrend line. With the election around the corner, the market is too jittery for a year end rally.
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