The Malaysia stock market is definitely bullish and has gone up by 30+ % since the March low.
You can also see the benefits of buying Malaysia index or stocks as SGD currency is stronger than Malaysia ringgit. That means you are exchanging SGD1 dollar for MYR 3.0674 ringgit.
That increase your purchasing power in Malaysia, in this case you have more local currency (ringgit) to invest.
Now that it has reached a resistance level at 1616.05 , I think the next 1-2 months , we could either see a correction or the price moving sideways before it decides to go up or down.
So, if you have bought some Malaysia stocks, you may want to take some partial or full profits to be on the safe side.
Imo, it is a bit too late to go long now for this index. If you want, wait for the breakout first and observe the price action. If it breaks above 1616.05 and retrace well, then the uptrend will continue else wait for the sideway move to complete first.
You can also see the benefits of buying Malaysia index or stocks as SGD currency is stronger than Malaysia ringgit. That means you are exchanging SGD1 dollar for MYR 3.0674 ringgit.
That increase your purchasing power in Malaysia, in this case you have more local currency (ringgit) to invest.
Now that it has reached a resistance level at 1616.05 , I think the next 1-2 months , we could either see a correction or the price moving sideways before it decides to go up or down.
So, if you have bought some Malaysia stocks, you may want to take some partial or full profits to be on the safe side.
Imo, it is a bit too late to go long now for this index. If you want, wait for the breakout first and observe the price action. If it breaks above 1616.05 and retrace well, then the uptrend will continue else wait for the sideway move to complete first.
Comment:
Market and currency are both still bullish
