Monday, March 25, 2013

Where the FBM-KLCI Heading To This Week?

This week where will the FBM-KLCI heading to? It is quite obvious that the share market is waiting for the announcement from Dato Seri Najib when our parliament will be dissolved. Can our share market especially the FBM-KLCI move up to reach 1,700 points at these moments? 

I'm doubt about it as the sentiment was so sensitive whenever there were some speculation news about the GE-13 is going to announce, the share market will react aggressively. Some said it will be announce today (Monday) and some even mention that before end of this week, for sure there will be an announcement either this week or next week or maybe after LIMA show in Langkawi. How the FBM-KLCI is going to fare when the announcement of parliament dissolution?

Based on the chart reading the FBM-KLCI still stay in the negative territory and it is below the 200 days moving average. This is not a good sign as it represent that the FBM-KLCI might be aiming to test the 1,600 points in near term (1,590 - 1600 strongest support). We might seeing that the Bear's are coming out huge to take over the Bull's.

Till today from my survey around with my friends and colleges, many of them would vote for Pakatan Rakyat (PR) rather going for Barisan Nasional (BN) but in the rural area BN have more chances in securing their votes. Seeing this current scenario it didn't favour the FBM-KLCI at all. Anytime from now we might be experiencing some huge movements in FBM-KLCI till the day of GE-13 (election day) when the announcement of parliament dissolution is announce.

More downturn rather than upside movement will likely to happen in FBM-KLCI for this coming week.