Thank you for your continued support! :) On the daily chart, the Footsie Bursa Malaysia main index had be sliding lower steadily until the fateful Friday the 13th in March where all hell broke loose, losing as much as 7% at the day's low. The result: a monster gap of some 45 points. Talk about a black friday! The development of the following week would come as...
double top formed. expect more downside if the support broken .
KLCI index have a low beta compare to other indexes in the world, as negative sentiment affecting the world markets might not be as impactful to KLCI but do note that KLCI is a critical level, anything below 1572 we will likely go back to find support at 1500. Recommendations: - Reduce the number of stocks in your portfoilio until we see some buying back in the...
RETEST ZONE REACH WAIT FOR PRICE BREAK H4 DOWNTREND LINE FOR LONG ENTER
Today FKLI's buyers start slowing down at mid-point resistance level (1651 level) . If buyers failed to breakthrough 1651 resistance level, we could see price retrace to 1635 level. DISCLAIMER: ABOVE ARE BASED ON MY OWN ANALYSIS, IT'S NOT A BUY/SELL CALL AND DOES NOT CONSIDER YOUR RISK APPETITE.
Detail @ The Chart
FBM Small Cap is always our best indicator to track the overall market performance and benchmark. We have let our readers knew that we have took profit on 26th April for all our short term position and remain our long term position. The reason we exit was due to the forming of Bearish Engulfing candle on the closing of 26th April and we would never expect the...
Although on the prior move, we knew that the KLCI will move lower to the support and trendline area which indicates the final wave (Z) correction and (e) in triangle. We were hoping that the price will bounce on these 2 support lines. It did for at least 2 weeks and moved 32.61 points above. As of now, I will stay neutral on Malaysia's economic, if price breaks...
Based on my previous observation, KLCI was in the 5th wave rally. But the rally had weaken after it reach near the 4th wave low. The 5th wave had broken and now it will enter into the ABC wave downward. In today trading, it has reach the very important support line at 1615 pt. If it closing with downwards breakout, the next support line will be at 1553 pt. The...
FBM KLCI is standing at the support 1616 pt. This support line is the lowest since 2016 and if breakout downwards would see a support at 1548 pts. On top of that, FBM KLCI is forming the Elliott 5th Wave downwards, we will see a reversal pattern or breakout of support at 1610 pts. SUMMARY: Downward -> Support at 1548 pts Upward -> Resistance at 1729 pts
Price continue bearish to retest the previous low (price 2.310). Divergence spotted for wave B and D and expecting price will make double bottom at previous low (price 2.310) before start bullish. Waiting the price to break the trend line for confirmation.
KLCI now settle down to support and creating the double bottom. If this support can hold, expected KLCI will go higher this week and test the previous high trend. If KLCI can break up the trend and will continue bullish for this month
Potential bullish flag pattern spotted in daily chart of BJTOTO, a break above 2.35 present a buying opportunities for capital gains and dividends.