FBM-KLCI Looks Much More Better. Can The Index Move Higher?

Last Friday the FBM-KLCI performs very well. The index was up +15.73 points to close at 1,522.61 points. Still the FBM-KLCI needs to penetrate the strong resistance level of 1,529 points. Able to do will show more positive sign for the Malaysian share market.

Based on technical indicators the MACD is showing sign of accumulation at this moment but the indicator is still well below the neutral zone (negative zone). Beside the MACD, others indicators are showing some improving sign.

Monitoring the share market movement right now will be the right timing to do as we can see most of the shares were at low. It might be an accumulation time but the best timing to accumulate is to wait for any opportunity arise (accumulate when the share market was weak or in the correction mode). Just be careful when choosing a right counter.

Right now our share market is in the process of technical rebound (going up). Most of the counters that were gone down for the last few days have shot up nicely since last Thursday and Friday. Volume and turnover still not promising yet, the Bulls might be still resting. Any how watch the share market movement closely this month, there might be some opportunity arises in the coming month.