Yesterday (02.07.2008) the market took a heavy bet and fell to 15 months low. The KL Composite Index fell by -21.13 points or 1.8% to close at 1,153.70 points. Is this an opportunity ? Sunrise Berhad fell again to create a new low at RM 1.41 per share before it close at RM 1.43 per share. The counter down RM -0.13 again from the yesterday close of RM 1.56 per share.
It seems to be an opportunity to buy at this point. For the past 8 days the counter has drop from the high of RM 2.10 per share (20.06.2008) without gaining any gains. A drop of almost RM -0.69 (RM 2.10 to RM 1.41). A review to the charts again stated that its strong support stood at RM 1.42 per share (17.07.2006) plus minus 5 sen (RM 1.37 to RM 1.47). Can this price hold ? Will it be a trading profits at this level ?
As I mention yesterday there is still a lot of buying opportunity emerge with a higher potential of trading profits (short terms). But when was the entry points ? It's all depends on how our judgment towards this market at the moment. This morning for the first time in Bursa Malaysia the server having a problem to do some trading. The server was down.
Bursa announcement: Please be informed that Equity trading for today (Thursday 3 July 2008) is suspended for the first session. Any orders entered or trades executed in the first session will be cancelled by Bursa. We will keep you updated on the progress and when trading can resume. How does it happens was not known but the the roller-coaster ride has just begin.
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