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By Zhuge Liang
The table below is a compilation of actively traded stocks with their stop-loss, support and upside targets together with some popular technical indicators. Stock name in bold represents stocks that are expected to attract momentum trading plays and hence encourage retail or short-term trading participation. Share price in bold reflects revised stop-loss, support and upside targets. Recommendation (REC) in bold indicates changes to recent technical calls.
Comments:
Given the severe fall on overnight US stocks led by financials on increased fears banks will need more funds to recapitalize or face nationalization, spill-over selling into local banking stocks is a distinct possibility today, hence our revision to SELL AMMB, BCHB, and Maybank. Blue chips such as Sime Darby, TM and TMI remains SELL. On the other hand, while lower liner construction related stocks such as MRCB, Ranhill, UEM Land, WCT and Zelan should also extend downward corrections, we view this as an opportunity to Buy on Sharp Dips as conditions will become grossly oversold, hence paving the way for technical rebound gains going forward.
Comments:
Given the severe fall on overnight US stocks led by financials on increased fears banks will need more funds to recapitalize or face nationalization, spill-over selling into local banking stocks is a distinct possibility today, hence our revision to SELL AMMB, BCHB, and Maybank. Blue chips such as Sime Darby, TM and TMI remains SELL. On the other hand, while lower liner construction related stocks such as MRCB, Ranhill, UEM Land, WCT and Zelan should also extend downward corrections, we view this as an opportunity to Buy on Sharp Dips as conditions will become grossly oversold, hence paving the way for technical rebound gains going forward.
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