Stocks on Bursa Malaysia ended easier yesterday on profit-taking activities in heavyweights with Nestle leading the fall, while second and third liners still remained active with glove makers and Sarawak based counters top the gainers list. The FBM KLCI opened in the red and traded lower taking cue from Dow’s overnight fall, it ended the day 3.34 points or 0.26% lower at 1289.51 after falling 6.41 points to the intra-day low of 1286.44. Losers led gainers by 436 to 366, while 213 counters were unchanged. Total volume was slightly lower at 1.499 billion shares worth RM1.714 billion.
As it was mentioned in Wednesday’s analysis that the FBM KLCI may be under some distribution pressure, it was indeed proven true with yesterday’s price action of the benchmark index which confirmed the possible short term distribution of index link heavyweights at 1292 to 1295 level. The index found strong support at the 1288 level by closing above it after testing the 1286 level which was supported by the 10-day moving average.
MACD continued to slide down, with its histogram falling further indicating the weakening of market momentum and correction to its earlier gain. RSI dipped further down to 63 have not turn bearish yet. Stochastic at 82 has crossed below its slow stochastic indicating a correction.
The FBM KLCI was supported by the 10-day moving average at 1286 level, if the index continue to fall and break below the 1286 level, it might fall further to the 1278 – 1280 level.
Today, the FBM KLCI is likely to trade within a range of 1280 to 1299.
This week's expected range: 1260 – 1330
Today’s expected range: 1280 – 1299
Resistance: 1293, 1296, 1299
Support: 1280, 1283, 1286
Stock to watch: EVERGRN
1 comment:
Small business
1. Often we forget the little guy, the SMB, in our discussions of the comings and goings of the Internet marketing industry. Sure there are times like this when a report surfaces talking about their issues and concerns but, for the most part, we like to talk about big brands and how they do the Internet marketing thing well or not so well.
2. The Center for Media Research has released a study by Vertical Response that shows just where many of these ‘Main Street’ players are going with their online dollars. The big winners: e-mail and social media. With only 3.8% of small business folks NOT planning on using e-mail marketing and with social media carrying the perception of being free (which they so rudely discover it is far from free) this should make some in the banner and search crowd a little wary.
3. According to the study, the most important tool for small businesses to succeed in 2010 is search engine marketing, while email marketing, public relations and social media cited as crucial for success.
23.8% of all small businesses reported that search engine marketing was the tool most needed for their business to succeed in 2010.
4. Small Business owners are largely forgotten. Thats why I only focus on them. I have experience several members of my family file bankruptcy due to small business failures. I also I suffered through 2 destroyed businesses due to failure however, in my failings I have learned some of the secrets to success. (Who can say they know it all?)
What I like about small business owners is that they are not afraid to take huge risks and lay it all on the line. But, I agree they do need a lot of help with their marketing. I think having them go the social media and email route is not only the least expensive but its also the most effective. Thanks for the stats!
5. With Facebook and Twitter being among the leaders of the Social networks, marketing as a small business is being transformed..
Respondents according to the Vertical Response survey appear to need some differentiation with the use of SE marketing and Social media Marketing
www.onlineuniversalwork.com
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