.png)
KLCI Daily Technical Readouts By Zhuge Liang
Support areas of 890 & 901 for the KLCI will be zone to buy on weakness, and the resistance areas of 936 and 948 may cap the market rebound. Due the DJIA falling a measly 27.24-points last night, we expect the KLCI to open lower initially, but firm bargain hunting on up-trending heavyweight counters would cushion the fall. As the KLCI is in an up-trend and has a Golden-Cross on its 18 and 40-day moving average, dips on the KLCI Index and key blue chip and liquid stocks would be well sought after. Smaller penny and lower-cap stocks would not fare as well since short-term players would be nervous and sell on rallies.
KLCI: Key Points
The KLCI may initially fall today and rebound
KLCI is in an uptrend
Buy on weakness with firm support of 890 & 901
Take profit at higher levels (around 930 to 936)
Technical Viewpoint:
The KLCI made a 52-week low level of 801.27 and rebounded past its previous retracement level of 926.65 this Tuesday. The KLCI is poised to move to higher retracement levels like 940.08, 951.09, 972.00, 982.96 and 993.73. The case for the KLCI’s uptrend is further strengthened by the “Golden-Cross” of the 18 and 40 day SMA this Tuesday.. Continue buying key blue chip and mid-cap stocks on weakness (as they are in up-trends). The KLCI pre-CNY rally could continue despite intermittent profit taking and weakness in the DJIA Index last night. Buy in the early morning today with fair expectations of higher levels in the later part of the day.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# KLCI TECHNICALS TABLE #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# WASEONG CHART #
# WASEONG TECHNICALS FA & TA Table #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# TWSPLNT CHART #
# TWSPLNT TECHNICALS FA & TA Table #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Please subscribe to Bursa Chat. We will send you the latest post by Email
===> Click
Subscribe to Bursa Chat by Email
BACK TO CHAT BOX
Support areas of 890 & 901 for the KLCI will be zone to buy on weakness, and the resistance areas of 936 and 948 may cap the market rebound. Due the DJIA falling a measly 27.24-points last night, we expect the KLCI to open lower initially, but firm bargain hunting on up-trending heavyweight counters would cushion the fall. As the KLCI is in an up-trend and has a Golden-Cross on its 18 and 40-day moving average, dips on the KLCI Index and key blue chip and liquid stocks would be well sought after. Smaller penny and lower-cap stocks would not fare as well since short-term players would be nervous and sell on rallies.
KLCI: Key Points
The KLCI may initially fall today and rebound
KLCI is in an uptrend
Buy on weakness with firm support of 890 & 901
Take profit at higher levels (around 930 to 936)
Technical Viewpoint:
The KLCI made a 52-week low level of 801.27 and rebounded past its previous retracement level of 926.65 this Tuesday. The KLCI is poised to move to higher retracement levels like 940.08, 951.09, 972.00, 982.96 and 993.73. The case for the KLCI’s uptrend is further strengthened by the “Golden-Cross” of the 18 and 40 day SMA this Tuesday.. Continue buying key blue chip and mid-cap stocks on weakness (as they are in up-trends). The KLCI pre-CNY rally could continue despite intermittent profit taking and weakness in the DJIA Index last night. Buy in the early morning today with fair expectations of higher levels in the later part of the day.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# KLCI TECHNICALS TABLE #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# WASEONG CHART #
# WASEONG TECHNICALS FA & TA Table #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
# TWSPLNT CHART #
# TWSPLNT TECHNICALS FA & TA Table #
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
===> Click
Subscribe to Bursa Chat by EmailBACK TO CHAT BOX
No comments:
Post a Comment