Bursa Malaysia Stock Watch
Market Outlook as at May 19, 2010
kltrader
Publish date: Wed, 19 May 2010, 10:30 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
The FBM-KLCI looks BAD. As at 4.17 pm, it has lost 20 points to 1310. It broke below the 50-day SMA line at 1328 in the morning. Its next important support will be the 100-day SMA line at 1303 (which will coincide with the psychological 1300 level). That's very crucial support. We can see that a quick succession of breakdown of the 50 and 100-day SMA lines was followed by sharp selloff in 2007 & then 2008.
Chart 1: FBM-KLCI's daily chart as at May 18, 2010 (Source: Tradesignum)
Chart 2: FBM-KLCI's weekly chart as at May 18, 2010 (Source: Tradesignum)
Chart 1: FBM-KLCI's daily chart as at May 18, 2010 (Source: Tradesignum)
Chart 2: FBM-KLCI's weekly chart as at May 18, 2010 (Source: Tradesignum)
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