Kuwait Stock Exchange (Last: 5813.07, down 28.43 points)
No respite is sight as the Kuwait Stock Exchange continued
its downward move. Yesterday, it fell 28 points to close the day at 5813. The
Index is looking set to test its recent low at 5800 and breach of which may
drag the Index further down to 5750. Major resistance is placed at 5850 and
5900.
GBK, KFIN and NBK are looking weak and we recommend selling
these stocks on rise. BPCC and BURG are showing overbought readings and we may
see some pullback or sideways action in these stocks to neutralize the
overbought momentum indicators. We do recommend buying BPCC and BURG on
weakness.
No comments:
Post a Comment