Today’s KLCI Tracker. (13/05/2010)
Overall medium technical readings say positive run is intact- Expect KLCI to climb higher to test 1,350 – 1,370 band again soon.Range 1,400 – 1,410 is the next resistance.- 1,325 – 1,330 range is the immediate support; 1,300 – 1,305 is the next.- Any pullback presents us with buying opportunities.

Momentum tracker for the day.

MRCB- Medium – term positive money flow still intact and will continue- Stock is retesting the RM1.70 – RM1.80 range, eventually reaching theRM2.00 – RM2.30 band. The stock is consolidating positively in RM1.35 –RM1.50 range support.- Current pullback is a buying opportunity.

Company Update – Berjaya Sports Toto (REDUCE, downgrade)

Results Note – Dialog Group (BUY, maintain) - A satisfactory set of results.

* Outside Malaysia-
-U.S. stocks advance, erasing S&P 500’s loss from May 6 plunge.
-U.S. trade gap widens as growth rebounds.
-Europe’s economy grows at faster pace than forecast.
-Philippine exports rise the most in at least 29 years.
-Oil trades below US$76 after falling as U.S. stockpiles increase.