FLOWS;
SELLS: IJM, SPSetia, TM
Technical Stock Alert;
1) LION CORP (RM0.405) - technical indicators showing
some positive divergence despite price touching a new low of RM0.405. RSI is
showing signs of hooking up from a very low level of 19. Immediate upside looking
at the RM0.48-RM0.50 levels. The recent selling pressure can be attributed to
the debt restructuring scheme the company under went which included a new issue
of 950m shares to its debtors.(DN/AL)
2) MAYBULK (RM1.65) - initial signs of a bounce yesterday
after falling to RM1.60 after touching a high this year of RM2.73. A breach
above the SMA 50 of RM1.73 could see short term trading momentum push it
towards the RM1.86 resistance levels of its 200 day SMA. The company has
managed to remain profitable despite the current challenging environment. They
are even considering to add to their
fleet of 17 vessels (plus 3 on order) to take advantage of the current depressed prices.