Tuesday, September 11, 2012

Some blue chips are breaking their uptrend line


Many blue chips are testing their uptrend line now while a few are breaking below it. I have appended below a few blue chips that have just broken their uptrend line; thus increasing the likelihood that they may slide further. This will put pressure on the index.


Chart 1: HLFG's daily chart as at September 11, 2012_11am (Source: Quickcharts)


Chart 2: Tenaga's daily chart as at September 11, 2012_11am (Source: Quickcharts)


Chart 3: CIMB's daily chart as at September 11, 2012_11am (Source: Quickcharts)


Chart 4: KLK's daily chart as at September 11, 2012_11am (Source: Quickcharts)

1 comment:

Denny said...

Hi Alex

yesterday we have witnessed another selloff in KLCI but market recoup more than half od its losses at the closed.

So do you think is too early to bottom fishing at this stage?