These past few days if we analyst the movement of world financial market including the DJIA; it seems that the KL Composite Index might eventually move up to a higher level. Most of the world share market are showing sign of strenght and also our share prices counters in these past few days have been staying quite stable at their level. There is some indication that the market is going to move higher and higher.
Right at the moment we can assume that most the bad news has been pour out but yet there are still many bad news being kept quite inside the vault. What ever it is, the most important element in order for the market to move is the volume. Without the volume being built up, the chances for the market to move higher will be equivalent to zero.
Another element would be a market leader. This is one of the factors that would bring this market to move up and if we take a look at the current situation, there isn't any counters that can be a potential leader unless KNM Berhad. With the current share prices of KNM stabilize at RM 0.55 level and with a highly volume done over these few days, don't be surprise if KNM Berhad would become a market leader.
This is not a recommendation to buy or to sell. It is just for us to share our taught. As I use to mention, this is just my own points of views. It cannot be considered accurate. It was based on my charts reading method. However we must always be remember that the KL Composite Index still inside the downtrend channel.
Yesterday the Dow Jones Industrial Average finished at 8,726.61 points up +247.14 points. For the four days, the Dow is up more than 15 percent and nearly 1,200 points. The broader Standard & Poor's 500 is up 18 percent. But no one seemed ready to declare the Wall Street carnage over. Still we need to be careful because we need to face the on going financial meltdown crisis.
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