July Weekly Update

Time To Sell? Time To Buy? "Buying is always easier than Selling"

This week the markets ended reds in colour due to most of the investor are profit taking from last week's market rally.

Malaysia market FBMKLCI closed at 1,336.65 points on Friday, 16th July 2010.

Hong Kong market Hang Seng Index closed at 20,250.16 points on Friday, 16th July 2010.

Singapore market Straits Times Index closed at 2,953.79 points on Friday, 16th July 2010.

ShangHai market Shanghai Composite closed at 2,424.27 points on Friday , 16th July 2010.

United States of America market Dow Jones Industrial Index closed at 10,098 points on Friday, 16th July 2010.

World stock markets were mixed on Friday due to the fall in American factory output and weak U.S regional manufacturing activities fueled concern over the strength of recovery in the world's biggest economy.

Investor who are profiting from last week's rally are advised to start profit taking and stays at the side line awaiting for the market correction.

Malaysia became the 1st Souteast Asia to introduce "Callable Bull/Bear Certificates" into the market.

(source:www.theedgemalaysia.com)
CIMB Group, he nation's second largest lender, yesterday became the first in Souteast Asia to launch callable bull certificates (CBCs) on AirAsia Bhd, Gamuda Bhd, Genting Bhd, and Berjaya Corp Bhd. Source: (http://www.theedgemalaysia.com/in-the-financial-daily/170040-airasia-gamuda-genting-bcorp-callable-bull-certificates-to-trade-today.html)

July 12th - 16th 2010 Indices Updates

U.S Dow Jones Industrial Index

*Candlesticks failed to break above its EMA100days resistant at 10,356 points.

*Important support at 10,000points.

*MACD having round top. A market correction is expected to continue.

Dow Jones Industrial Weekly Chart

*DJIA weekly chart EMA10,20days are still in a state of deathly cross.

*Weekly MACD is still in a state of deathly cross.

*DJIA weekly chart is still weak indicating that market will continue to be volatile.

FBMKLCI Index

*Candlestick unable to break above its resistant at 1350points.

*Support at 1315 points.

*MACD is having a round top. A market correction might occur.

FBMKLCI Weekly Chart

*FBMKLCI weekly chart's candlesticks are still supporting strongly above its EMA10,20days.

*Weekly MACD is still in a state of market correction (deathly cross)

*FBMKLCI will continue to be volatile.

China listed stocks getting hot

KSTAR (5172)

*Immediate support at Bollinger Center Band at RM2.41

*Momentum deathly cross. Expecting for Price Correction. (SELL)

XINQUAN (5155)

*Candlesticks failed to break above its resistant at RM1.69.

*Support at RM1.40.

*MACD having round top. Expecting for a price correction. (SELL)

XDL(5156)

*Inverted hammer formation (Price reversal).

*Support at RM0.39

*MACD rounding top. Expecting for a price correction. (SELL)

Telecommunication stocks to watch

AXIATA (6888)

*Candlesticks showing price reversal.

*Support at RM4.00.

*MACD rounding top. Expecting a price correction. (SELL)

TIMECOM (5031)

*Candlesticks unable to break above its double top resistant at RM0.54.

*Support at RM0.44.

*MACD rounding top. Expecting a price correction. (SELL)

STOCKS TO WATCH

SAPCRES (8575)

*Price will rally if it is able to break above its ascending triangle resistant.

*Support at RM2.21

*MACD Golden Cross. (BUY)

SAPCRES Weekly Chart

*Weekly EMA4,9,18days Golden Crossing. (BUY)

*Weekly MACD Golden Crossing. (BUY)

*Strong Weekly Chart.

POS (4634)

*Resistant at RM3.20.

*Support at RM2.90.

*MACD golden crossing. (BUY)