It’s another field day for the Malaysian Stock Market with record turnover of 4.7817 billions shares. The KLCI closed at 1,276.52 (-1.7) . A black spinning top appeared. This is a sign that the market is losing momentum.
The Mesdaq index, however, closed higher at 153.97 (+5.14) with very heavy volume traded. Today’s scenario is clearly a reflection that interest has shifted to the lower liners and the penny stocks.
I-Power jumped 10.5c to close at 55c with exceptionally high turnover of close to 111 million shares. A big white candle has occurred. This is a bullish sign. Upon completion of its bonus issue, the counter is much more liquid now. I believe that there is some impending good news.
Nextnation added 4.5c to close at 68c. Though its volume traded has improved, it is not the time to celebrate yet. The last three candles are all white. I hope to see a forth one tomorrow.
IOI Property has improved by 1.50 since I mentioned it a week ago. The stock has the potential to go higher.
Somewhere in your make-up, there lies sleeping, the seed of achievement which, if aroused and put into action, would carry you to heights such as you may never have hoped to attain…Napoleon Hill