Monday, December 5, 2011

HDBSVR cautious on outlook, advises sell into strength

KUALA LUMPUR (Dec 5): Hwang DBS Vickers Research have advised investors to sell into strength as it is still early to say whether the worst is already over.

In its market outlook on Monday, it said after witnessing a surprisingly powerful technical rebound last week, investors could be tempted to turn bullish now.

'But it is premature to think that the worst is already over when the state of the global economy is still fragile.

'Consequently, investors should sell into strength, as the bears may return sooner or later to block our stock market progress. On the chart, we stick to our stance that the FBM KLCI will face stiff resistance at the 1,500 and 1,515 levels,' it said.

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