SP Setia 2008-07-09

SP Setia (8664-MainBoard) traded higher to hit the upper line of the falling channel with an intradayhigh of RM2.93 on 8/7/2008 in higher volume. An upside violation of RM2.97 should see the stockgoing up to test RM3.20 – RM3.30 level. Risk taking traders may establish buying position at RM2.88;however, should a position been established, an initial stop loss level at RM2.73 must be placedwith a trailing stop loss strategy.Technical wise :(1) MACD line cut down the Signal line on 20/5/2008 to give a “sell” signal.(2) +DMI crossed below -DMI on 4/7/2008 to indicate a “down” move.(3) %K line cut up the %D line to give a “buy” signal on 18/6/2008.