Wednesday, April 29, 2015

FBMKLCI Still Not Strong Enough.

After last week posting on FBMKLCI indicators, the index climb up and close higher the next day (24.04.2015). It went up almost 16.50 point to close at 1,862.58 point. Actually it caught me by surprised during that time. In the end the uptrend didn't materialize at all the next following trading day after another black candlestick appeared.

From the share market sentiment it shows that the overall momentum didn't argue very well that the FBMKLCI is trending towards up. The trend currently show more sign to move lower. 

The 1,846 point currently will stand as a minor support and from the previous post I have mention before that 1,836 point still stand as a main support in order to preserve the current trend but if the index move below that point, it would be bad.

Candlestick indicators argue very well these few days showing sign of weakening momentum on FBMKLCI with "Dark Cloud" and "Shooting Star" appear on top. Indicators such as MACD (moving sideways - most probably going down) and the MACD Histogram also weakening, we might having the some same situation happen in the middle of February till end of February - a correction sell down.

It would be wise-able to stay out for a moment and monitor the whole situation before making any new commitment with no indication where the share market is heading to? Just be careful with our trade or to be more cautious.

Anyway it is just my point of views and it didn't argue one must buy or sell in the market. Anything can happen. Dow Jones Industrial Average still standing very well at this moment. 

Thursday, April 23, 2015

FBMKLCI Set To Move Lower ???

Another week passes by, there are some interesting candlesticks and indicators just appeared recently. Last Tuesday (21.04.2015) the FMBKLCI moving in an outstanding ways breaking the resistance level of 1,858 point in tandem with the Dow Jones up about 200 point on Monday night.
At that time the sentiment look so strong which I'm expecting it will be a continuation trend moving forward but when the opening bell started the next day 22.04.2015 (Wednesday), things look a bit different with the sentiment all the sudden turn dull and showing sign of weaknesses (bearish).
On Wednesday closing, the FBMKLCI candlestick closed with a DARK CLOUD pattern. It appear that the index is already reaching its top but it didn't mean that it was a trend reversal but on Thursday (23.04.2015) the FBMKLCI candlestick  appear again with a second bearish confirmation of SHOOTING STAR pattern.
Both of these candlestick patterns argue very well that the FBMKLCI are at the top or maybe near the end of the trend. At these moments a careful approach and trade still need to be implemented in order to secure our initial trading. With MACD crossover and MACD histogram appear weaker, the FBMKLCI might be adjusting its trend more to the downside.
Next supporting level will be 1,836 point. If this level been taken out, the FBMKLCI will turn ugly in near term. Just be careful with our trade.
The month of May is nearing; maybe it is about time for the world equities market to take a breath after the long run.

Friday, April 17, 2015

FBMKLCI Showing Sign Of Weakening. "Selling Into Strenght".

These few days I have been watching how our index is performing and where the FBMKLCI will bring us to? Frankly from my point of views, our share market sentiment is still not strong enough with the MACD indicator almost flash selling signal.

The MACD not yet cross but definitely there are some danger elements been created now with the MACD histogram also show more weakening signal day by day. Can we call it that the FBMKLCI is still consolidating???

These few days movement is very important to determine where our FBMKLCI is heading to. Any opportunity arise is to "Sell on Strength" rather than "Accumulate on Weakness".

No doubts the FBMKLCI still stay above 200 days moving average, still a careful approach need to be implemented in order to prepare for our self if the FBMKLCI has lost its momentum. At these moments some of the world equities market still in a bullish position with all the indicators still show positive sign. 
These will eventually help the FBMKLCI keeping up its momentum. The current support for the FBMKLCI stand at 1,836 point with strongest resistance still stand at 1,858 point. Breaking down 1,836 point will bring the FBMKLCI to create lower low.

Friday, April 10, 2015

Can FBM KLCI Reach Its Old Time High of 1,896 Point ?

Based on the chart reading, the KLCI has reach it first target - 1,845 point and the second target - 1,858 point as well. At these moments based on the MACD reading, KLCI might take a hold to adjust its recent upwards after breaking the most strongest resistance level of 200 days moving average at 1,822 point.
These 200 days moving average would turn into a major support at these moments. Basically if we analyst the current share market sentiment, I would rather say the sentiment didn't picture the whole share market prices hence I would say it is not a healthy market to trade unless we are very sure on our favourite counters.
Most of the counters in Bursa Malaysia still trade below 200 days moving average. Hence I would rather say that a careful trading technic need to be implemented in order to trade in this share market.
Looking at the overall picture, the whole world share market movements currently at bullish phase with the Dow Jones Industrial Average also showing some promising signal. With the world sentiments turn bullish, will it help FBM KLCI to move higher to reach its old time high of 1,896 point ? 

Friday, April 3, 2015

KLCI Is Moving Towards 1,845 Point? Overall Share Market Sentiment Still Dull.

It has been about 2 years from today I didn't write anything or post anything about our Malaysian share market. But today I will try my best to share my personal view on how our Malaysian share market is doing right now.
These few weeks we can see the index have try its very best to overcome the 200 days moving average and indeed last few days the index have managed to stay above the critical level of 200 days moving average at 1,822 point. 

At these moments the momentum are favouring the index to climb up to reach another resistance level of 1,845 point but overall individual stock didn't show any sign of a healthy share market environment.
We might be seeing the index keep on creating new high in the process from the previous low 1,774.30 point (16.03.2015) but still most of the individual stock prices didn't perform at all. Overall the share market sentiment still look dull. 
It is not an overall share market movement. It is merely some index stocks pushing up the index higher and higher with some penny stock moving here and there but we cannot say that this is a false alarm in their movement because the indicators are showing some positive sign at these moments.