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Monday, January 5, 2009

Bullish Call Justified

Bullish Call justified By ZHUGE LIANG

Changed call and view towards the bullish side a few days before the New Year. Since then, the market has vindicated recent call and the bull is now in full swing. Below are some trading stocks to consider to ride the January/Obama bull. On a brief note, exercise cautions towards the war on-goings in Gaza where the death toll has topped 500 (source : CNN). Keep monitoring the Gaza on-goings very closely in the near term to detect any market disruption possibilities. Take nothing for granted.

TRADING STOCKS
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Sapcrest (RM0.820)
Support : 0.750 Resistance : 0.930
Cut Loss : 0.76 (7.3% below current price)

Share prices are currently trading above the short term 30-day MAV line at the 0.77 level which indicates potential short term
bullishness. With oil prices remaining strong because of the conflicts in the Middle East, Sapura Crest remains one of the top proxies to ride the current bullish wave.

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AMMB (RM2.51)
Support : 2.40 Resistance : 2.60
Cut Loss : 2.38 (5% below current price)

AMMB is currently trying to breakout above its 90 day MAV line at the 2.51 level. With such strong momentum and sufficient volume, it’s only a matter of time before AMMB pierces above its mid term 90 day line, which will in turn lend more bullish strength to its upsurge.

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Lionind (RM0.74)
Support : 0.69 Resistance : 0.875
Cut Loss : 0.65 (6% below support level)

The share price of Lion Industries is supported by its 30-days MAV line at the 0.69 level which limits its downside in the near term and lends more bullish confidence to traders.



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