FKLI Doji Evening Star - Correction Again?
This Blog has been created for the purpose of sharing my ideas on investing on Bursa Malaysia using Technical Analysis. Stock market investing is a science & TA a scientific tool used by investment professionals. TA also has its sceptics but this is an oportunity for you to follow TA based investing ideas. So welcome to my blog and may you "Live Long And Prosper".
Well here are the charts, but make up your own minds, do your own homework, be very vigilant & careful. Happy Trading & good luck.
All my stock picks are doing well & should all rise Friday & this coming week. The only one that didn't do as expected is Cymao but as all indicators are still +ve I believe it will also come good.
KLCI broke the 970 resistance today on increased vol. All indicators are positive. No sell signal yet even though its on a 6 year high. Next resistance is 984 & after that 1,000. Dow Jones closed up almost 100 points to a new record high. Asian markets will probably respond positively & a rising tide will mean all ships will float higher so KLCI may go for 984. After that we only have one week of trading next week before a 3 day closure of Bursa for the Hari Raya hols & we may see the pullback only after Wed next week. Today should be an up day.
Leweko - Still rising with mild corrections intraday. All indicators are positive but MACDH looks like it is at a peak. We still cannot call it 'the' peak so unless there is a fall its still positive. Many other timber/plywood stocks have risen especially the bigger blue chips Ta Ann & WTK, the smaller stocks should follow suit as the industry is fundamentally doing well.
KLCI - is still quite steady. Volumes are getting better & all indicators are still positive. However if it does not break 970 soon the bulls may get exhausted & give up temporarily. I cannot make a call at the moment so we shall just have to watch it for further signs. Dow Jones slipped slightly but it is still looking steady. Nothing to do but wait.
Some stocks have risen exceptionally well the last few weeks but have they reached the end of their run?
The recent news about rising demand & prices for plywood & timber products led to a massive jump in prices of many of the stocks in this industry. Fundamentally, it looks like the industry is in for a good run for at least 6 - 12 months & with this stocks will generally rise. I pick a few here which are technically sound as well & use DocTS strategy to select investments.