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Monday, March 20, 2017

Market Outlook as at March 20, 2017

At 4:30pm, volume traded in the overall market was 5.6 billion units. FBMKLCI, FBM70 & FBMSCAP were traded at 1747, 14388 and 16832. As you can see from the charts below, FBMKLCI is testing its resistance from the horizontal line at 1750; FNM70 is testing the line connecting its recent peaks at 14400; and, FBMSCAP is approaching its resistance from the horizontal line at 17100.

When you see two days of  huge volume (5 billion units traded today & last Friday) and the funny stocks starting to rally, you can be sure that the innocent & greedy ones are all loading on stocks in the market. The first meaningful correction is not far away. If you have good profit, this is the time to pocket some. Good luck!!


Chart 1: FBMKLCI's monthly & weekly chart as at Mar 20, 2017_4.00pm (Source: Shareinvestor.com)


Chart 2: FBM70's monthly & weekly chart as at Mar 20, 2017_4.00pm (Source: Shareinvestor.com) 


Chart 3: FBMSCAP's monthly & weekly chart as at Mar 20, 2017_4.00pm (Source: Shareinvestor.com) 

1 comment:

steve said...

Agree.

Thanks for sharing.