FBM KLCI - turning very bearishStocks on Bursa Malaysia ended the day lower yesterday on weak market sentiment, after US equities closed lower on Friday, amid global economic growth concerns.
KLSE trade ideas
FBMKLCI - Consolidation in a downtrend.Greetings to all.
The Bursa market has taken a hit from what it seems a short rally with 2 day gap up on 16th Nov and 19 Nov. Then the Bursa is closed on Tuesday on public holiday and the next day (Wed, 21st Nov) the market opened with a gap down and plunged -15.34 pts (-0.9%) on bad sentiment from the US and Crude Oil bad movement the day before.
Here is my latest update on the technical review for KLCI.
1. It is clear that the index has been on a short term downtrend ever since a short rally ended with a peak somewhere in late August 2018.
2. Since that moment, the index is giving out negative technical signals such as;
a. lower highs and lower lows,
b. breaking the long term EMA 200 support
c. candlesticks turning yellow which gives a confirmative negative trend signal
d. since the yellow candlesticks appear, it has been a steep decline thereafter.
e. currently a chart pattern, a consolidation in a downtrend, "bearish pennant" is spotted with a crucial support around 1672 - 1681. If the price breaks
this support and stays below, the next short term lower target (based on the fibonacci key levels) is likely to be 1658 and 1641.
Based on Fibonacci Key Levels,
Current immediate short term support of the index = S1 - 1681, S1 - 1672
Current immediate short term resistance of the index = R1 - 1708, R2 - 1736
Cadangan Sell bagi KLCI Jangka Masa Panjang.Pasaran KLCI mengalami penurunan yang teruk sejak peralihan kuasa dalam PRU baru baru ini.
Market hate uncertainty berdasarkan beberapa isu yang disuarakan oleh kerajaan yang mentadbir.
Untuk mengembalikan keyakinan para pelabur, diharapkan agar kerajaan mengeluarkan cadangan yang memberikan sentimen positif untuk KLCI dan fokus untuk menaikkan KLCI ke arah Bull Run. Cadangan capital gain tax tidak bagus untuk pasaran dan sudah pasti ini membuatkan pelabur akan beralih minat kepada pasaran negara lain.
Secara jelas buat masa sekarang, KLCI akan meneruskan penurunan ke paras seterusnya sekitar 1600 mata. Tetapi correction harus ada sebelum penurunan.
Dinasihatkan para pelabur menguruskan portfolio pelaburan dengan hemah.
Bull Momentum Building.Highlight - 3rd Aug Balance of Trade for Jun.
Emerging Market such as MARVEL (Argentina), BOVESPA (Brazil) & JSX COMP (Indonesia) are among the choices for investor to invest their funds this past week. & among the top gainer in those market are tech & telecom companies.
I wouldnt be surprise should Malaysia show a solid balance of trade report this early August, more investor will be pouring their fund in this undervalued market because of the general election & scandal.
Also look for solid report from DIGI, MAXIS & AXIATA which will carry on the bull momentum.
Technically,
it still is dime. but we can see bull momentum are building with its breakout above the 50ma.
There is also a visible double bottom. Should everything go as planned, we would have a classic head & shoulder reversal pattern.
FBM KLCI weekly chart - short term reboundKLCI staged a breather from a sharp drop since early May after failed attempt to break and close above 1900 level. Short term uptrend with Resistance set at R1 and R2, if momentum continues, might signal a comeback. But for now, bearish trend still in effect.
FBMKLCI heading south for FLAT CORRECTIONCurrent downward movement of FBMKLCI suggest that the corrective wave are still intact. 5 subwave sequence of wave C in the making. Index falling to complete the subwave iii of wave C.
Possible target for wave iii : 1650/1600
Possible target for wave C : 1550/1500
FBMKLCI in the midst of completing a flat correctionBased on the wave structure, FBMKLCI completed 5 waves leading diagonal from 2009 to 2014.
FBMKLCI embarked a correction in 2014, and the pattern is still unfolding.
Based on the recent retest of historical high in Q2 of 2018, it is finally apparent that the rally from 2015 bottom was a wave B of the overall flat correction.
Since the internal structure of flat is 3-3-5, expect a 5 wave decline to unfold, before concluding the current flat correction.
Further correction for KLCIKLCI might do a further correction since the breakout of the previous support at 1791 point. The next support zone is 1756 point . Overall, KLCI still in the uptrend bias. However, 1756 might be a turning point for bearish momentum. The other support zone is at 1707 point.
24 April 2018 post
Bursa Malaysia 28 Mac - 1 Jun 2018Jangkaan pergerakan pasaran Bursa Malaysia.
Telahpun berlaku Double Extreme Buy Daily sebelum ini, dan kenaikan hanyalah sampai di Mid BB.
Meskipun di Monthly memiliki tanda-tanda Reentry Buy MA10Low, sebagai confirmation perlu lihat pembentukan setup Extreme Buy yang Ketiga.
[ Extreme merupakan Signal pergerakan trend mula melemah; iaitu selepas wujudnya :
1. MA5 keluar BB.
2. Reverse Candle.
3. Retest Candle.
Dalam keadaan BB Mendatar pada sesuatu TimeFrame, jangkaan wujud lebih daripada satu Extreme yang menjadi setup iaitu Double Extreme dan Triple Extreme. Setup di BB Mendatar merupakan sideway yang membentuk setup seperti Reentry di TimeFrame besar. ]
Justeru, jangkaan untuk Setup Triple Extreme Buy selepas ada Reverse Candle pada hari ini ataupun Rabu 30 Mei 2018.
Jika sebaliknya, Monthly membentuk Candle Arah Awal.
MSTA KLCI MONTHLY INDEXHazwan Hakimi Bin MD Hassim
Trend:- Uptrend line but support broken at 1797.72 maybe heading towards next support at 1729.21.
Indicator: Relative strength index showing current market at 51.69% which means in the middle between overbought and oversold.
Projection: KLCI will maintain sideway trading between 1797 and 1729 until it break next support or resistance.
FBM KLCI Daily Chart further weakening towards ultimate supportThe index has broken the psychological level of 1800 and now heading to secondary support (along red line) at about 1750. Potential rebound might be expected around this level, but if this level is broken, the index is seen to test 1700 at extreme level.
FBMKLCI - Technically Starts to WeakenLaburlah Technical Coverage (22-MAY, Wednesday):
FBMKLCI
Technical Analysis Breakdown
1. Trend: Stagnant
2. RSI & Stochastic: Sign of weakening
3. MACD: Still weak
4. Resistance level: 1868
5. Support level: 1798
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
Malaysia Stock Index (*The Bad Always Wins)KLSE
From the way I look at it, KLSE is priming for a nice swing up to the upward move or even a strong break out up.
That could possibly mean "the corrupt wins" and "The business as usual".
How I wish, my analysis is dead wrong this time.
DYODD and Trade Safe
s0nic
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KLSE with Bullish Counts.Couple of Bullish PnF Counts as shown with KLSE which are active. A charging bull with plenty of locally produced high octane fuel to propel KLSE going forward may sum it.
Analysis continues on the bar/candle charts for further expected bullish developments.
The incumbent government is set to lose the ruling power.Price level satisfaction can only be achieved if FBMKLCI retest 1775, to conclude the correction (which began in Feb 2018), based on a combination WXY ElliottWave structure.
The wave Y is a reverse symmetry (expanding) triangle, with wave E aiming for 1775.
Price level 1775 will coincide with 61.8% retracement of the previous uptrend (Dec 2017 to Feb 2018).
The price structure is setting tone for the incumbent to lose the ruling power for the first time of history, smashing the beliefs of most financial analyst.
Remark: Very tricky!
Immediate term very bearish, once 1775 mark is hit, sentiment will reverse to bullish, inflicting maximum confusion to traders.
