Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal during a strong market, and the trader's judgment is not swayed by emotion, is a method for trading success. No matter how good the fundamentals and technicals are, stocks will have a high risk of failure during weak markets.
Wednesday, March 24, 2010
DJ MARKET TALK: Maybank Rates Faber At Accumulate; MYR2.48 Target
0509 GMT [Dow Jones] STOCK CALL: Maybank Investment rates Faber (1368.KU) at Accumulate based on charts with upside targets at MYR2.48, then MYR2.70. Technical analyst Lee Cheng Hooi says stock of hotel owner, property firm hit its Wave 4 low at MYR1.52 in February with grossly oversold signals. "With the positive indicators like CCI, DMI, MACD, Stochastic and Oscillator supporting our upward view, Faber has very good potential to trend higher," says Lee. Stock +0.9% at MYR2.26. Next resistance at MYR2.50. On downside, support eyed at MYR2.24, then MYR1.91; recommends stop loss at MYR1.89. (kwan-por.lee@dowjones.com)
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