FBMKLCI broke below the 50-day EMA line at 1576. If no quick recovery kicks in, FBMKLCI would test the horizontal line at 1565 shortly. The breakdown of the main market barometer would aggravate the poor market sentiment and caused more selling over the next few days. In time like this, it is better to adopt a cautious stance and avoid entering large long position.
Chart: FBMKLCI's daily chart as at April 27, 2012_11.00am (Source: Quickcharts)
1 comment:
Hi Alex ,
What do you think of plantation counters? Some of them already showed some weakness.Is it most likely a correction or reversal in your opinion?
Tx!
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