Disclaimer

Disclaimer :We shall not be liable for any direct or consequential loss arising from any use of material contained in this publication. The information contained in this report is based on data obtained from sources believed to be reliable and opinions formed are from belief of the individual author. The Publication should not form basis to be relied upon in decision making. Any future outlook,forecasts or any future interpretation are in no event guaranteed and are merely opinions and views of the author.

Thursday, 21 November 2013

MALTON (6181)

MALTON BERHAD                                                                                                SHAHRIZUL NAZLI


Share Analysis
Middle term uptrend line has been penetrated and further short term correction is expected. It is supported by RSI pointing down in oversold area and MACD lines about to cross below 0 line. Healthy correction is
confirmed by prices and volumes complimenting each other to the downside. Failure to stay above Fibo 38.2% will result in further correction. Lower band of Bollinger is expending suggested that MALTON is due for rebound.

Trading Advice
Buy on weakness strategy is the best way to trade in MALTON by taking the advantage of a healthy correction. Set Peak B as an upside target and stop loss slightly below Fibo 32.8%.

Price Projection
Short term           - upside target RM 0.96 (Peak A)
                            - stop loss RM 0.80 (Slightly below Fibo 38.2%)
Medium term      - upside target RM 1.00 (Peak B/ Psychological resistance level)
                            - stop loss RM 0.80 (Slightly below Fibo 38.2%)
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