3:02 pm – PB Bank react negatively to good news !
Time to take profit for PB Bank in the short term.
Market Summary – 19 July 2010
By CC Hong.
Malaysian shares market continued its rebound on the 7th consecutive week, chalking up a gain of 12.3 points at 1336.65 on a weekly close despite an absence of solid economic news or data in the macro front. Technical-based buying and good US corporate earning reports boosted market sentiment. Weekly volume increased to 3.1 billion shares from 2.5 billion shares of previous.
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1:55 pm – Submit A Stock 4 analysis – JAKS has a SOW – upthrust on low vol !
There is also no demand as higher prices were rejected @ Rm0.76.
Jaks is likely to come down to retest RM0.70. Have a stop loss level at the pivot point — 2 pivot back @ rm0.665
What’s on the table on 22 July with CIMB Research
What’s on the table
Auto sector update – Record-breaking speed
1H sales volume was a record-breaking 301,077 units (+20% yoy) that smashed the previous 1H record of 277,973 units achieved in 2008, thanks to 1) the release of pent-up demand from last year, 2) recovery of consumer and business sentiment, and 3) contribution from new launches. We are nudging our TIV forecast up a marginal 1% to 590,955 units (+10%) after upping our sales assumptions by Read the rest of this entry →
