Friday, November 12, 2010

FBM-KLCI Must Maintain At 1,500 Points And Above?

Well it seems that our share market is heading for some small correction yesterday. Still if we look at the overall sentiment, the Malaysian share market still looks healthier. Some of the counters are moving up and some of them are consolidating.

Basically if we take a look at the charts of the FBM-KLCI at these moments, we are having bad Candlestick reading. Not a good sign but yet it still didn't pose any great danger.

Last week and this week we are having lots of chances and opportunity to play and to choose some selective counter. The sentiment was great but still we need to be sharp in monitoring the share market movement all the time. Right now the FBM-KLCI might be hovering or consolidate around 1,500 - 1530 points.

Usually whenever the index reaches its previous all time high, they need to take a break in order for the index to adjust either to move higher or to move lower. 1,500 points will be the first support for the FBM-KLCI. This support must stand in order for the FBM-KLCI to continue its uptrend movement.

Daily turnover or volume must increase to about 2 billion shares a day in order for the sentiment to create greater bulls. With the turnover maintain at 1.3 billion to 1.6 billion a day, it is still not enough to bring the whole sentiment to become super Bull Run.

Dow Jones Industrial Average needs to stay at 11,200 points and above in order for the bulls to survive or else it would poise some difficulty or a great danger to the world equity markets.

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