Updates: CI , Futures, Eden, Leader, Tebrau

KLCI - Surprisingly it rose today. The piercing pattern is bullish & even the Vol is up BUT don't be fooled. I am not convinced that this means the CI will rise from here as it is not convincing enough. Tho the vol is up it is not very high & MACD has made a bearish cross, RSI is down. The 940 resistance must be convincingly taken out & we need to see if it can stay above 940 for 3 days. So I still think it is bearish & will not buy in yet. Lets see what happens on Friday.


CI Futures - Still negative as it did not follow the CI up & remains below the 940 level. Its now at a discount to the CI. Vol is quite low though. Its hard to make a call as it is not exhibiting any major sell/buy signals but its more negative than positive.


Eden - I don't advocate trading these highly speculative & syndicated stocks & I don't buy them but since some of you might I thought I'd blog it here bec I see a very strong SELL signal. There is a strong bearish Dark Cloud Cover candlestick pattern Thurs. When this happens after a large white candle the previous day it is very bearish & indicates further downside. So I would SELL this stock asap.


Leader - Another stock I don't advocate trading but as I see a bad sign I am providing this advise for traders who are involved in Leader. It has also formed a very strong Dark Cloud Cover & when that appears after a large white candle it is very bearish. This is a clear SELL sign as the next move will be down.


Tebrau - No break out . The poor sentiment for penny stocks affected Tebrau as well so Wed's positive move has fizzled out. A descending triangle is bearish but a strong high volume breakout would have been positive but now it has formed a very bearish engulfing candle, so the next move is definitely down. Unless penny stock sentiment improves considerably tomorrow (which I seriously doubt), otherwise it may even crack down below 0.50 & such a break below the lower line of the triangle is extremely bearish & traders must SELL. So keep a very close eye on Tebrau Friday & sell if it breaks down. Next support is 0.45.