Diagram: Malaysian Public Holidays for Jan-Jun 2015
Chartwise, FBMKLCI & FBMEMAS performed as expected. Both reacted very positively to the breakout above the neckline of the inverted Head-and-Shoulders formation. The rally failed to break above the intermediate downtrend line for both indices. It is important that the pullback does not violate the recently surpassed neckline (at A-B or 1775 for FBMKLCI or at A1-B1 or 12150 for FBMEMAS).
Chart: FBMKLCI & FBMEMAS's daily chart as at Jan 26, 2015 (Source: ShareInvestor.com)
I believe that the market recovery is still intact provided the necklines (as mentioned above) are not violated. On the other hand, if FBMKLCI and FBMEMAS can surpass the intermediate downtrend line at 1810 & 12450, respectively, the market could continue its prior uptrend.
Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of FBMKLCI.
4 comments:
Hi Alex, what is your view on Parkson Retail Group. Do you think it would see the day light again ?
Hi Stanley
The recent quarterly result shows no improvement in the bottom-line. Net profit continued to slide.
The share price of its most profitable subsidiary, Parkson Retail Group Ltd - which owns the China operation - is still sliding (see the link below). However, the share price of Parkson on Bursa Malaysia seems to have found a support at RM2.20.
Thus, I would rate Parkson a HOLD at the current price and a possible long-term BUY at RM2.20.
https://www.hkex.com.hk/eng/invest/company/chart_page_e.asp?WidCoID=3368&Month=12&langcode=e
Dear Alex,
Mudajya seems to have stabilized at 1.40-1.50 and now heading steadily upwards. Do you think the trend can go future?
Thanks!
Hi steve
Mudajya might have made a temporary bottom. If so, it could stage a rebound to RM1.80-2.00.
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