The Stock Library

KLSE CHART ANALYSIS FBMKLCI 23 November 2012

Edwin Toh
Publish date: Sat, 24 Nov 2012, 09:46 AM
Edwin Toh
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Talk about everything all under one roof which help us profit big money!! This blog have Technical Analyze Chart on Selected Stock and Forum for Daily Buy and Sell Call.


Disclaimer
All observation, buy call and sell call based on my own personal view are just for informational purpose and for my personal references to remind my self what i have analyze before and now for self improvement. Buy at your own risk and do not follow my view as i am only a novice analyzer with 60% success only..
Following Message
After breaking from the previous support at 1621 it has declined even further even other Asian index are inclining. Are foreign investor pumping out their investment from KLSE and invest other other Asian index?



Indicators
1 ) Trendline - below the downtrend line .. ( Bearish )
2)  Support/Resistance - Broke below the previous low at 1621 ( Bearish ) 
3) MACD -Bearish Crossover  ( Bearish )
4) RSI - Broken below 30% (Bearish) ,
5) STO - Broke below 20% and bearish crossover (Bearish)
6) Ichimoku -  a) Price coming entering from the support cloud (Bearish).
                       b) Conversion line  below the base line (Bearish).
                       c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Black Candle  (Bearish).




Nuffnang Ads



Conclusion:
Bearish
Breaking the support of 1621 and now heading the to next support at 1600.. Further breaking it this physiological 1600 will be super bearish..

Resistance-  1621 / 1649 /  1668 /1681 /1725
Support -   1600 / 1594 / 1581


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Discussions
1 person likes this. Showing 2 of 2 comments

hatifahs

I heard possible break 1600 ,bcas foreign n epf are selling bluechip

2012-11-24 13:41

KC Loh

yes, GE selldown began few weeks ago already. I think it was smart on the part of BN strategy given that they need to boost their warchest ahead of the campaign! also, they need to keep index low so as to attract foreign FDIs as what HK, Indonesia and Philippines are experiencing now! This blip will continue i think until GE is over together with year end window dressings!

so far, reports suggests GLCs and EPF doing most of the selling. The other foreign institutions are selling too no doubt, but in averaging their positions, from what i can see! So much for BNM's domestic demands :)

2012-11-24 13:52

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