FKLI Technical Analysis - 10 Jul 2009

FKLI closed 2 points lower after 2 consecutive of "Long" days. FKLI is in negative divergence behaviour with conract prices increase in the past 2 days but with lower and lower volume.

Bollinger Band width contracting with candle below middle BB suggesting middle BB the next resistance for FKLI @ 1067.5. MACD show some sign of rounding bottom while RSI remain neutral @ 64.7.

FKLI support @ 1055.5 follow by 1044 while resistance @ 1067.5 follow by 1091.

HAPPY TRADING!!

Market News - 10 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 4.76 points to 8,183.17 points.

·  U.S stocks edged higher on Thursday as investors bought beaten-down technology and commodity shares, while a positive broker comment on Goldman Sachs boosted the financial sector.

·  Elsewhere, leaders of the Group of Eight industrial nations meeting in Italy agreed that in spite of rounds of interest rate cuts and an estimated $5 trillion in public spending, it was much too early to cut off economic lifelines. 

 

Macro and Corporate New

·  Budget carrier AirAsia Bhd is expecting its courier service to generate RM30 mln revenue next year as it continues to roll out initiatives to boost ancillary income.

 

Market News - 09 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 14.81 points to 8,178.41 points.

·  Most U.S stocks fell as concern second-quarter earnings will disappoint investors overshadowed a Treasury plan to remove as much as $40 bln in toxic assets from financial firms.

·  European stocks declined for the fifth straight session on Wednesday to their lowest closing level in 10 weeks as investors faced further signs that the pace of economic recovery will not be quick.

 

 

Macro and Corporate New

·  Axiata said there is nothing on the table with regard to the purchase of assets owned by Millicom International Cellular SA in Asia.

·  IJM Plantations has proposed a rights issue to raise about RM336.56 mln to part finance the development of its existing and future oil palm plantations, mainly in Indonesia. 

 

Technial Analysis Training Program (12 Jul 2009) @ PENANG

CIMB are pleased to announce that there will be a FREE preview entitled Technical Analysis Training Program organised by ChartNexus Pte Ltd and supported by CIMB Investment Bank Berhad in Penang.

 

In this seminar, Mr William from ChartNexus will share his view on the local market outlook. Mr William has an extensive analytical skill and writes regularly on the regional market outlook. He is a core member of the ChartNexus Team of Trainers in Malaysia and has trained thousands of investors in his training sessions. William is also a key figure in the after-course support program leading charges such as graduate gatherings.

 

Details:

 

Date	12th July 2009 (Sunday)
Time	9.30 am – 11.30 am
Venue	Function Hall 2   Gurney Hotel, Penang

 

Don’t miss this seminar to learn more about the investment opportunities in the current market trend.

 

Please register at http://www.chartnexus.com/events/details.php?eid=2688 by 10^th July 2009 (Friday).

 

Registration is on a first-come-first-serve basis.

Market News - 08 Jul 2009

U.S. and European Market Roundup

• The DJIA down 161.27 points to 8,163.60 points.
• U.S stocks fell to their lowest level in 10 weeks on Tuesday as talk of a second government stimulus plan heightened fears that the economy is not yet on the path to recovery and that the corporate earnings season starting this week will be weak.
• European equities ended down for a fourth straight session on Tuesday, led lower by utilities and energy shares, as investors remained nervous ahead of earnings figures and worries about the pace of global economic recovery.

Macro and Corporate New

• Property developer Glomac is cutting its property sales target by half for fiscal 2010 as demand falters due to the global economic downturn, a top executive said yesterday.