The Star Online: Business
The Star Online: Business |
| Posted: 01 Feb 2013 05:05 PM PST AFTER finding a shelter at the 3-year lows of 85.5 sen on Dec 6, last year, Unisem (M) Bhd turned sideways, lasting four weeks before bouncing off in the wake of fresh bargain hunting interest. Riding on the improved strength, prices recovered to a high of RM1.17 on Jan 11, only to be met by another bout of profit-taking activity.Shares retraced back to the 96.5-sen level to trade range-bound, finishing up three sen to RM1.03 on Thursday. Evidently, the prevailing trend is bearish while prices continue to consolidate but the daily chart clearly shows that Unisem has bottomed out and appears to be making an attempt to mend. As Unisem was active in the past several weeks indicating growing investors interest the stock is set to carve out a recovery path soon. Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were on the slide. It had triggered a short-term sell at the 73% level in mid-week. The daily moving average convergence/divergence histogram also continued to expand negatively against the daily signal line to stay bearish. It had issued a sell on Jan 21. In stark contrast, the 14-day relative strength index had indicated a mild ticking up pictogram from the 42 points level. Technically, indicators are unclear, implying extended range-bound pattern until a breakout is detected. A successful penetration of the recent high of RM1.17 would signal a bullish reversal, clearing the way for prices to challenge the heavy overhead resistance of RM1.45-RM1.55 band. In the case the 96.5-sen support is violated, a re-test of the 85.5-sen floor can be expected. ● The comments above do not represent a recommendation to buy or sell. |
| Posted: 01 Feb 2013 05:05 PM PST REVIEW: Bursa Malaysia was shut for a public holiday on Monday, alongside Australia. While we were taking a break, world equities, led by Wall Street, drifted higher on the back of positive sentiment, encouraged by solid US corporate earnings and the strongest seasonal inflows of mutual funds into equities. In line with the bullish offshore performance, Bursa kicked off the week on a concrete platform, with the bellwether FBM Kuala Lumpur Composite Index (FBM KLCI) jumping a significant 7.89 points, or 0.48% to 1,645.02, playing catching up. But sadly, the momentum was short-lived, as early buyers were quick to turn sellers in the absence of fresh market-stimulating leads on the domestic front to boost stocks. In the wake of profit taking, the key index reversed from an intra-day high of 1,646.14 in the morning to a low of 1,635.38 in the afternoon before bouncing off slightly in late hour to churn out a small plus note, up 0.21 point to 1,637.34 in lacklustre session on Tuesday. Despite the firmer close, the overall market breadth was decisively negative, with the scoreboard showing 473 losers beating 253 winners. Nevertheless, Bursa made another attempt to recover the next day, with the key index treading above water in early business, drawing strength from US markets on optimism that global economic growth was accelerating following the release of a better-than-expected housing data. The gains in major indices in the region added to the upbeat note. However, it was another sad story here. Apparently, the bulls were forced to abandon the idea, as an unusual fresh bout of liquidation pressure, quite similar to the ones we had seen only several days ago, once again hit Bursa for no apparent reason. Losses in the heavyweights dragged the FBM KLCI down 24.17 points at one stage before bargain hunting activity came to the rescue, helping to cushion the downside. At the final bell, the local bourse still shed 9.61 points to 1,627.73 on correction in mid-week. Thereafter, shares on the domestic front moved sideways on extended consolidation, with a pullback in overseas markets weighing on the local sentiment. In sluggish trade, the key index eased an extra 0.18 point to end the week at 1,627.55 on Thursday. The local bourse was closed for a public holiday yesterday. Statistics: The principal index declined 9.58 points week-on-week, or 0.6% to 1,627.55 on Thursday, versus 1,637.13 at the close on Jan 25. Total turnover for the three-day holiday-shortened week stood at 3.369 billion units valued at RM5.682bil, compared with 5.285 billion shares worth RM8.151bil done during the four-day previous week. Technical indicators: The oscillator per cent K had indicated a tentative topping out sign at the 56% level and in great danger of tripping below the oscillator per cent D of the daily slow-stochactic momentum index. Meanwhile, the 14-day relative strength index continued to linger at the bearish territory, ending at the 20 points level on Thursday. In addition, the daily moving average convergence/divergence (MACD) histogram sustained the downward expansion against the daily signal line to stay bearish. It had issued a sell on Jan 14. Weekly indicators worsened, with the weekly slow-stochastic momentum index sinking lower and the weekly MACD expanding negatively against the weekly trigger line after flashing a sell signal a week ago. Outlook: Bursa continued to consolidate, with the benchmark FBM KLCI suffering losses for the fourth straight week, as profit-taking activity dominated the floor due to lack of new leads on the domestic front. Sentiment has not changed one bit, as we are still seeing a bout of unusual liquidation occasionally. Based on the daily chart, the key index had violated the important 200-day simple moving average (SMA) four times during intra-day session in the past seven days and each time it fell below this last line on our radar screen, big funds emerged from the sidelines to lift it off the bottom. As a result, the market avoided a major breakdown at the end of the day. From the recent market action, it is fairly safe to buy on dips, at least for now, especially below the 200-day SMA level. Technically, all the indicators are sending out a negative reading, implying Bursa is likely to remain in consolidation mode this week. Initial support is envisaged at the 1,613 points. A lower floor is pegged at the 1,590.67 points, of which a clear violation would have a negative impact on the market going forward. Resistance is maintained at 1,650 points, followed by 14-day SMA and 21-day SMA, resting at 1,654 points and 1,665 points respectively. The next upper objective would be to challenge the heavy 1,700 points psychological barrier. |
| People ‘N Rich-H gets boost from new wins Posted: 01 Feb 2013 05:03 PM PST ADVERTISING and branding agency People N Rich-H Sdn Bhd, which is part of Japan's worldwide Hakuhodo group, achieved a strong 20% growth last year thanks to new business wins. It says in a statement that the wins included National Gas Company, KL Metropolis by Naza TTDI, Saito Academy of Security Management, Saito College, Astalift, and Meditag. The agency's expanded scope of services for existing clients ranged from Fujifilm's launch of Fujifilm Instax, Fujifilm X-Pro1, and Fujifilm X-E1 Premium interchangeable lens camera. People N Rich-H also spearheaded the launch of a series of Hitachi home appliances from refrigerators to air-conditioners and washing machines, and the Suzuki Nex a fun, trendy, and spirited scooter targeted at the younger generation. "In a broad sense, 2012 was a significant year for People N Rich-H," says Victor Chen, the agency's director of client management. "The current momentum is in line with our plans to provide our roster of clients with holistic and fully integrated services." This year, the agency plans to expand its investments in digital and integrated media offering as well as promoting Enrich Media, its media planning unit. Media Consortium Corp (MCC), the group's independent media entity, had a tremendous year of new business growth in 2012 from acquisitions in the property, fast food, and fast-moving consumer goods sectors. Two other divisions in the group, Ambient and Display Asia, also won new business, including from Western Union, F&N, Visa, Kuwait Finance House, Bank Simpanan National, and Corridor Utara. People N Rich-H also launched Think, a customised training programme developed jointly with 95% of the Advertising Academy, to equip the agency's staff across all divisions to guide them in leading conversations, originate and express fresh ideas meaningfully, and sharpen their skills in new competencies. |
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