Friday, October 9, 2009

FBM-KLCI Close At New High - Volume Traded Still Low ?

As we can see, the Dow Jones Industrial Average really bring some hope to the world equities market with our FBM-KLCI also moving along in tandem with the regional market performance but it is still early to mention that the share market is in the bull run as the volume traded didn't support this theory at all.

Based on the chart, the FBM-KLCI is moving nearer to the next resistance level of 1,242 points level and the Parabolic SAR is showing buying signal again.

Even though we can see some of the speculation counters are moving these two days but the volume or the turnover done still not encouraging yet but certain counters started to make new high. What we can see from here although some of share prices are making new high but the overall market is not really moving in a promising way.

I will assume that these two days advance would be mainly because many counters were moving down for almost two weeks and this time around they are moving up (technical rebound) but we cannot assume that most of counters are going for a technical rebound. Some of the counters are really moving and they really move to break their strong resistance and created new high.

We really need to pay lots of attention in searching for solid counters that can really make huge gains out of it. One has to know that the on going BATTLE is still keep on going and we will never know who will win in the end of this WAR as the FBM-KLCI still staying above the 1,200 points level.

1 comment:

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