Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Friday, July 9, 2010

Property Charts Bearish;MYR3.20 Key Level-OSK

[Dow Jones] STOCK CALL: OSK Research says KLCC Property Holdings' (5089.KU) short-term technical outlook remains bearish unless stock can breach key resistance at MYR3.20. Chartist Shin Kao Jack says outlook for stock turned negative after major breakdown of MYR3.20 support in May. Stock has since been on a short-term uptrend from May low of MYR2.74 but failure to breach MYR3.20 level, followed by violation of short-term uptrend may signal end of rebound, says Shin. Stock last +1.0% at MYR3.12; if MYR3.20 breached, next resistance eyed at MYR3.36. On downside, support at MYR2.98, then MYR2.86.

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