My Trading Adventure
KLCI and Telcos are overbought
CP TEH
Publish date: Tue, 16 Aug 2016, 09:20 PM
CP TEH
0 2,918
All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
KLCI's RSI at 70 now ... we are going into overbought region, and need to check 1725 level as strong resistance(SELL level).
Telco overbought too .... do remember the time I liked whole telco-sector? Today, I dislike and SELL is the idea ... we only buy during FEAR and when these are not in favour.
Axiata ... can see the long white-candle for us to SELL ... if we have bought during oversold position? Now it is overbought ...
Digi : Back to RM5 ... buy when RSI below 30, sell when RSI above 70. get the idea?
Maxis : See ... let the chart speaks ..
We do not need more than 2 INDICATORS in our chart ... a single RSI or at times, MACD is good enough if we know how to use them.
Short FKLI.
Will rest earlier ... and wake up 5.30am ... to exercise.
TEH
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Be the first to like this. Showing 5 of 5 comments
if u sell just becuase of RSI is more than 70 you gonna miss out lots of good one. e.g. Johotin with RSI >70 back in oct 2015. u would have missed RM1 gain!!!!
2016-08-16 23:30
ini cb teh banyak keras kepala, org suruh dia study FA dia xnak.
TA hanya bleh untung sesuap makan je, FA baru boleh win big.
2016-08-17 09:25
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looking at axiata, for us to sell??!!!
it is a long candle which validated by higher than average volume. it has also broken the resistance at 5.8 and 5.9. It is preparing to test next resistance 6.08.
Not to mention bollinger band and MA. just dont see why it is time to sell
2016-08-16 23:29