KLCI waves
KLCI waves 6
hotstock1975
Publish date: Mon, 11 May 2020, 12:31 PM
hotstock1975
0 101
Elliot wave analysis to measure price behavior for projecting next price actions
Continue from KLCI waves 5 : https://klse.i3investor.com/blogs/E_Wave/2020-05-04-story-h1506878621-KLCI_waves_5.jsp
Weekly Time Frame
From the last 2 candles, Bearish Harami formation has been formed which indicates bearish sentiment is still persist. These was the second set of bearish formation after Dark Cloud Cover from prior 2 weeks. -DMI and +DMI are still implying consolidaton is taken place.
An continuous short term trend could emerge if levels listed below was broken:
Immediate Resistance - 1407
Immediate Support - 1369
Daily Time Frame
KLCI has consolidated and traded in tight range to form a bullish triangle. To recap, our bearish view on the downside is still hold since KLCI has yet to breach above the high of minuette sub wave ii at 1418. Therefore, a trend channel (CT) and few trend lines (DT, UT) has been constructed to capture more signals. For the past fews days, it was resisted under DT line which is one of the important level to watch in coming days.
Since there are new signals prompted, we have prepared 2 possible outcomes which either bearish or bullish setiment might take place if certain critical levels is breached respectively. You may see the wave counts for bullish look has been revised.
a) Bearish view
Since our prior bearish view is still hold, minuette sub 3rd wave would take place if the triangle break down and the support 1369 broken.
b) Bullish view
From the chart below, a possible new wave counts would be realized if there was a breakout from triangle and closed above 1418. Besides that, Wave C could be ended at 1207 low. Thereafter, UT line level to be watched closely when KLCI is trending higher.
All analysis above are based on past and current price levels setup. It could be vary at some point in time.
Stay healthly and safely.
Wave Believer
More articles on KLCI waves
KLCI waves 94 - WILL THE DOWNWARD PRESSURE TO BE IMPULSIVE TOWARDS WAVE E?
Created by hotstock1975 | Jan 24, 2022
KLCI waves 93 - EXTENSION UPWARD ENDED AND IT'S TIME TO THE DOWNSIDE?
Created by hotstock1975 | Jan 17, 2022
KLCI waves 89 - KLCI WILL EXTEND AND HIT LOWER TARGETS GRADUALLY
Created by hotstock1975 | Dec 20, 2021
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
1
The Alpha Trader
3
南洋行家论股
6
Bimb Research Highlights
7
BFM Podcast
8
BFM Podcast
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
