Bursa Alert
Global Market
NewsCIMB Research ups KLCI key support to 1,566
Page 1 of 1
CIMB Research ups KLCI key support to 1,566
by hlk Thu 14 Jul 2011, 09:56
KUALA LUMPUR: CIMB Equities Research said the FBMKLCI has formed a bullish harami pattern, which is a potential reversal signal.
“We think the pattern means that prices may have stabilised for the time being. We continue to expect more sideways movement for the immediate term but remain positive for the short to medium term,” it said on Thursday, July 14.
CIMB Research said the recent setback has neutralised the overbought situation, allowing the bulls to push on if they choose to.
“We upped our key support from 1,560 to 1,566. The index remains a buy on weakness, targeting 1,609 and 1,622,” it said.
“We think the pattern means that prices may have stabilised for the time being. We continue to expect more sideways movement for the immediate term but remain positive for the short to medium term,” it said on Thursday, July 14.
CIMB Research said the recent setback has neutralised the overbought situation, allowing the bulls to push on if they choose to.
“We upped our key support from 1,560 to 1,566. The index remains a buy on weakness, targeting 1,609 and 1,622,” it said.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» UOB Kay Hian Research expects year-end window dressing to support KLCI
» CIMB Research: KLCI could attempt to cross 1,490
» CIMB Research maintains Neutral, KLCI end-2012 target 1,650
» CIMB Research: KLCI facing greater selling pressure near 1,600
» GE13: CIMB Research ups Malaysia to Overweight, end-2013 KLCI target 1,850
» CIMB Research: KLCI could attempt to cross 1,490
» CIMB Research maintains Neutral, KLCI end-2012 target 1,650
» CIMB Research: KLCI facing greater selling pressure near 1,600
» GE13: CIMB Research ups Malaysia to Overweight, end-2013 KLCI target 1,850
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|