Bursa Malaysia Stock Watch
Can The FBM-KLCI Continuing Their Uptrend Journey?
kltrader
Publish date: Mon, 16 Aug 2010, 02:40 PM
kltrader
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FBM-KLCI did something fantastic on last Friday trading. Based on the candlestick pattern the FBM-KLCI turn into a bit bullish. Yet ... in order for the FBM-KLCI to confirm their continuation uptrend, the index have to cross their previous high of 1,370 points.Strong supporting level still stands at 1,348 points. A breach of this point will bring the share market to move further lower to find another support. Can the FBM-KLCI still manage to continue their journey?
One thing for sure, no doubt we are seeing some positive sign with the FBM-KLCI still have the ability to stay at high but not every counter is moving accordingly. Only certain sectors are moving and for those who really playing for speculation (no contra), they are the one who can really making some return.
With the Dow Jones Industrial Average went into a correction mode right now, we have to be careful whenever we want to choose good counters to play with. Hopefully the pullback from the DJIA was not that bad, maybe just a profit taking after recently huge run-up. The next supporting level for the DJIA now standing at 10,100 points.
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