KL shares lower at mid-morning trade

Share prices on Bursa Malaysia were lower at mid-morning today, weighed down by losses in selective blue-chips like CIMB, Sime Darby, Genting and AirAsia, dealers said.

At 11.05am, the FBM KLCI was 1.29 points lower at 1,555.37, after opening 0.47 point higher at 1,557.13.

CIMB fell three sen to RM9.60, Sime Darby eased six sen to RM7.10, Genting lost two sen to RM10.52 and AirAsia declined one sen to RM3.57.

The Finance Index dropped 12.43 points to 13,855.24 and the Plantation Index fell 15.79 points to 8,588.12.

The Industrial Index, however, rose 0.57 point to 2,866.80.

The FBM Emas Index dropped 4.63 points to 10,774.0 and the FBM ACE Index decreased 2.18 points to 4,674.20.

The FBM Mid 70 Index was up 3.62 points to 12,199.38.

Losers led gainers by 317 to 284 while 280 counters were unchanged. Trading was mild with 495.231 million shares worth RM446.528 million traded.

Among active counters, IFCA MSC and Naim Indah added 1.5 sen each to 13 sen and 43.5 sen, respectively, SAAG Consolidated earned half sen to seven sen and Xidelang was unchanged at 40 sen.

Among heavyweights, Maybank rose two sen to RM8.72, Petronas Chemicals was unchanged at RM6.94 and Maxis was up one sen to RM6.00. -- Bernama



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

CIMB Research has technical Buy on EA Holdings at 22.5 sen

KUALA LUMPUR (Feb 13): CIMB Equities Research has a technical buy on EA Holdings at 22.5 sen at which it is trading at a price-to-book value of 2.2 times.

The research house said on Monday EA Holdings broke out of its wedge pattern last week.

“We think it is poised for a stronger rebound. If we are right, the next upleg is going to push prices towards 24 sen and 26 sen,” it said.

CIMB Research said the MACD signal line has staged a positive crossover while its RSI has also hooked upward. The improving technical landscape bodes well for EA.

“Risk takers may start to nibble now while other should wait for a breakout above 23 sen (200-day SMA) before going long. Put a stop at below 21 sen,” it said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

CIMB Research has technical buy on EA Holdings at 34 sen

KUALA LUMPUR (Dec 6): CIMB Equities Research has a technical buy on EA Holdings Bhd at 34 sen at which it is trading at a price to book value of 1.4 times.

It said on Tuesday that the previous day’s long white candle is positive as it took out the 30-day as well as the 50-day SMA to close positive for the day.

“Prices are just marginally below the key trend line resistance at 35 sen. The technical landscape is improving as the zero line managed to repel the selling pressure. The sharp hook up on its RSI is also positive for the stock,” it said.

CIMB Research said that coupled with the pick up in trading volume, it believes that there is a good chance that prices could breakout above 35 sen soon.

“Closing above 35 sen would likely send prices higher towards 40.5 sen and even 42 sen next. Yesterday’s low of 30.5 sen is the cut loss point,” it said.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.