Journey to Wealth
FBM KLCI - Another Milestone
t is now confirmed that the sell-down which occurred three weeks ago was just a market breather for the FBM KLCI's longer uptrend, as yesterday's near 7-pt gains pushed the index to another record high, marking another milestone for the stock market.
The daily RSI closed at the 69-pt level yesterday - still a distance from the 80-pt level which the index has not been able to surpass for nearly two years ' giving it room to add more points in the coming weeks. Hence, the near-term technical outlook of the FBM KLCI remains firmly bullish.
From the current historic high level, market participants can look for the 1,660-pt level as the psychological hurdle. To the downside, look for an immediate support at 1,646 pts, followed by 1,634 pts.
Source: OSK
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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....
