Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study


Tuesday, January 19, 2010

Malaysia steel producers upgraded

Ann Joo Resources Bhd and three other Malaysian steel producers were upgraded at RHB Research Institute Sdn Bhd to reflect improving demand and product prices.

Ann joo was raised to “outperform” from “market perform,” while CSC Steel Holdings Bhd was upgraded to “outperform” from ‘underperform,’’ RHB said in a report today.

Hiap Teck Venture Bhd and Kinsteel Bhd were also raised to “outperform,” it said.

Kinsteel rose to a 17-month high in Kuala Lumpur trading, climbing 3.6 per cent to RM1.14 at 9:08 am local time, set for the highest level since August 8, 2008.



Ann Joo Resources gained 1.9 per cent to RM3.21, CSC Steel rose 1.4 per cent to RM1.46 and Hiap Teck added 2.1 per cent to RM1.46. -- Bloomberg

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