Sunday, June 28, 2015

KLCI Aiming For 1,672 Points?

As we can see from the chart, it seems that the KLCI looks very weak. On Friday closing the index makes another new low.



Personally if we look at it, the index hardly can make a good rebound. It seems the index is heading towards 1,672 points. Few days ago it try to move and make a rebound but was drag down by certain index counter especially Tenaga Nasional Berhad. 

One thing for sure, there is no such thing that the KLCI is heading straight to the south. It might eventually rebound but when? Those who anticipate that the rebound will happen will keep on long (buy) in the futures but will feel disappointing with current sentiments as the momentum still look very weak. 

The games right now is "How to catch the low and anticipate that the rebound will happen". Mmmmmmmm definately not easy.

Wednesday, June 17, 2015

AirAsia Facing Heavy Selling. "Catching A Falling Knife"

 
AirAsia Berhad one of darling stock for their abilities to create numerous award these few years are now facing heavy selling. This morning the stock again facing another round of selling. Current price RM1.50
 
At the moment no bottom has been found but based on the chart the next support should be RM1.42. An opportunity to "Catch A Falling Knife"? I think it is not easy. No one will know where is the bottom.

Friday, June 12, 2015

Not Easy To Look For Rebounds.


From the chart we can see that the MACD is almost reaching its crossover. MACD histogram still in green color. Whether got rebound or not still another question.
 
If today the KLCI can close higher we might see some strength on the KLCI. Basically these few days it was so tough with the KLCI trying to stabilize it position but not easy with the sentiments still look very fragile these few days.
 
Most of the counters still very weak especially the index link counters. After 2 weeks of hovering around 1,752 point to 1,728 point, we will have to wait where the index is heading to?