| 08/02/2002 Fri 02:00 pm Friday A weak Dow took its toil on most stocks but firm spots are showing up. Venture and Kep Corp likely to stay up when Dow resumes its upward correction. See target for Venture at 13.30 and Kep Corp at 5.00 for short term. Citiraya enters into corrective phase and supports at 0.37 and 0.33 with barriers at 0.415 and 0.45. Thurs: The Dow ended higher and Nasdaq finished in the minus territory. Signs of bottoming are showing up with Dow and Nasdaq staying resilient despite weaker GDP numbers. Over here, the play on Citiraya baffles as PE riding high into the 90's at 0.365. However, buying power is amazing and volume traded for one day exceeded the issued size of 138.8 mln shares. Meanwhile Freightlinks came out with a bigger loss. C&C came out better than expected, thanks partly to better sales in Malaysia and Astra improved business and a very strong Indonesian Rupiah. Datacraft continues weak trend with key support at 1.15. After support of 1.15, next supports at 1.03 and 1.00. TMC international- an educational stock has support at 0.20 and 0.22. Key barriers at 0.29 and 0.32. Education is one growth sector which may beat the index over the long term. Tues Tech stocks are expected to benefit from the next wave and see trend reversal in semi-con stocks. Ellipsiz and Chartered may have formed double bottom at 0.24 and 2.83 respectively. Ellipsiz see target at 0.34 and chartered at 3.80. Stats target lies at 2.42. Nasdaq formed reversal patterns and this week looks better than last week. For those who have switch broking firms, pls resend your new email address if you wish to stay on mailing list. Today's opening was strong and a firm finish likely as momentum has turned. Previous commentaries |
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