Chart 1: FBMKLCI's daily chart as at May 31, 2012_4.20pm (Source: Quickcharts)
I have looked through the indices of all the sectors in our market. Finance, Trading Services & Industrial Products are presently pressing against their medium-term downtrend line, while Construction & Plantation indices have yet to test their downtrend line. The chart for Consumer Product is tricky, as the index is presently in a V-spike recovery after a V-spike drop. The only sectoral index which has broken above its downtrend line is Properties (see below).
Chart 2: Properties's daily chart as at May 31, 2012_4.20pm (Source: Quickcharts)
4 comments:
Hi Alex ,
What's your comment on glove counters's performance on these few days?
Tx!
BSKL's performance last Thursday where stocks were generally up when most other countries were significantly down was indeed a surprise. But it was down on Friday, in line with the others.
Europe and US stock exchanges suffered a drop on Friday after the Asian markets had closed. I'm wondering what's in store next week. The financial and political situations in Greece are already well-known but now there's another factor in the unfolding troubles of Spain.
The market will be volatile, which offers chances for short-term traders and also investors looking at the longer term. When there's a mini-panic, the prices of even the solid companies that shouldn't be affected much by what happens elsewhere tend to come down. This would be a great buying opportunity for those with the guts and holding power.
hI luckystock2
Rubber glove stocks should be positive, with rubber latex dropping & USD rising.
However, looking through the sharts of the Big Four, only one has broken above their medium-term downtrend line. That stock is Supermx, which broke above its downtrend line at RM1.80. The other 3 stocks & their downtrend line resistance are:
1) Topglove- RM4.70
2) Harta- RM3.85
3) Kossan- RM3.15
Hi Mat Cendana,
The global market will continue to be volatile. Compared to these markets, our Bursa looks like a calm bay, even a safe harbor. Nevertheless, beneath the calm water, we can see some shipwrecks. This is a warning for those who play the market recklessly. If it is tough to make money in a bull market, imagine how much tougher to do so in a bear market.
Good luck.
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