Based on the above, you should exercise careful discretion in your trading.
Chart: FBMKLCI's daily chart as at January 25, 2012 (Source: Tradesignum)
Thursday, January 26, 2012
Market Outlook as at January 26, 2012
Our market has been recovering cautiously after the selldown in July-September. This recovery is reflected in the medium-term uptrend line, SS. The recovery rally had encountered strong resistance which triggered sharp pullbacks. These pullbacks can be fitted into a 3-fan downtrend line, with the market currently testing the third fan-line (R-R3). With the negative crossover noted in the MACD indicator, there is a good chance that the rally will not be able to surpass the resistance at 1525. This could set the stage for a correction in the market. FBMKLCI may pullback to the medium-term uptrend line support at 1510 or the psychological 1500 level. A break below the 1500 level could lead to a longer consolidation in the market.
Based on the above, you should exercise careful discretion in your trading.
Chart: FBMKLCI's daily chart as at January 25, 2012 (Source: Tradesignum)
Based on the above, you should exercise careful discretion in your trading.
Chart: FBMKLCI's daily chart as at January 25, 2012 (Source: Tradesignum)
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5 comments:
Hi Alex,
Although our klse index and many of the 2nd and 3rd liners has been rising , but actually some of the bluechips like MHB , CIMB and Axiata are quite weak recently. What do you think about it?
Tx!
Hi Alex,
Happy Chinese New Year. Would like to check any potential for HWGB counter? Thank you.
Hi Michael L
HWGB is not a profitable company. It is a penny stock that can rise only if there is a play. It was played up in October 2011 & January 2012. I think it is likely to drift for a while before the next play starts, if ever.
Hi luckystock2
There are some selective rotational plays among the 2nd & 3rd liners. As you have noted, blue chip stocks are mostly sidelined, unless they were sold down earlier.
Hi Alex,
Any comment on Manulife Bhd ?
Is it worth to accumulate at the current price for long term investment now ?
Thank you.
Kelvin
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