MRCB code 1651

1:06 PM Joehari Matt

Malaysian Resources Corp. Bhd : MRCB : stock code 1651

Another counter in my watch list. One the counters that I will consider for buy if it seem the whole market is on bullish side. Also in construction sector - should follow construction sector 'in' trend.

Technically, many of the bear already out by reflects by the correction (end of June) and zig-zag period. 2 higher low created a bullish up trend. Anyway, no obvious new bulls coming in a large way. Also, volume is not comparatively high but the counter should be among the actively trade in coming days.

Strong resistance is at RM1.51, any strong breakout from level is a sign it will run far.  If 1.51 is the target (resistance) for short-term, it is not much of a potential for short-term trade but for few weeks holding, the potential is great (over 1.75 -1.95). Minor support is around 1.30 : if collapsed should be taken as early bearish signal. 1.05 is the main support for now.

As at time of writing, it is at 1.37.
For me, I am not consider it as a buy now because of believe so any bullish overall market trend will be short-lived. The short-term potential is not that attractive.

Will be in my watch list for buying opportunity after the whole market is more 'clear'.

Price at around the support zone is RM1.05 is very attractive.



MRCB homepage



MRCB research info at businessweek.com



MRCB Daily chart: (click for enlarged view):
mrcb

MRCB weekly chart: (click for enlarged view):
mrcb-weekly

UEMLAND (STOCK CODE 5148) : 08 Sept 09

7:04 AM Joehari Matt

In line with my slightly short-term bullish view on the overall market (read my latest KLSE outlook at http://bursa-malaysia.blogspot.com ) maybe I can start looking at some of the stocks in my watch list. I will say UEMLAND already out of the zig zag period (could be corrective wave 4 already over and wave 5 in the making OR a,b,c,d,e waves over and wave 1 of a new wave sequence begin).

Not much to say because my opinion is much on technical and chart.

I expect it will go higher than RM2.01 but the target will be RM2.00. Not much of volume but I think the zig zag period (a,b,c,d) already shaken off the bears. Slow up swing expected.

Close price 1.65.

Fundamental info at http://ueml.listedcompany.com/

UEMLAND daily chart: click for larger view uemland-080909

Update : 12th October 09 sold 1.73 . Expecting overall market will be bad in the coming weeks.