Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Friday, January 9, 2009

Dow Hammer / TWSCorp & KUB

By Zhuge Liang

DJIA Vague Hammer formation
In addition, there was a vague hammer candlestick formation in the Dow last night. Although this hammer candlestick formation was not a white candle for it to be considered a pure hammer, nevertheless it does reaffirms the status quo bullish underlying strength of the Dow.
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The Dow also managed to hold above its short term MAV lines which means that the bears are kept at bay, at least for now.

Strategy : Maintain Bullish stance in the short term
The reaffirmation of the bull would see us maintaining the status quo call of a short term bull. We hold on to our recommendation of trades in banking stocks as well as other second liner stocks like TWSCORP and KUB.
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