Chart 1: FBMKLCI's daily chart as at June 5, 2017 (Source: Shareinvestors.com)
As noted yesterday, FBMACE & FBMSCAP are likely to continue their recovery though I should highlight that FBMACE corrected a bit yesterday.
Chart 2: FBMACE's daily chart as at June 5, 2017 (Source: Shareinvestors.com)
Chart 3: FBMFLG's daily chart as at June 5, 2017 (Source: Shareinvestors.com)
The 2nd & 3rd liner stocks rallied yesterday, and that lifted FBM70 & FBMSCAP right up to the violated uptrend lines. Can these indices break reclaim the violated uptrend lines?
Chart 4: FBM70's daily chart as at June 5, 2017 (Source: Shareinvestors.com)
Chart 5: FBMSCAP's daily chart as at June 5, 2017 (Source: Shareinvestors.com)
For the market to continue its recovery, we like to see FBMKLCI stay above the 1785 mark and FBM70 & FBMSCAP to break above and stay above their previous uptrend lines. If these 3 indices can perform as we hope for, then the market will continue to be bullish.
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