Bursa Update
KLCI - at 965.5 is just at a 2 points discount to Futures. If futures climb it looks like CI will too. There is very strong resistance at 970 & it may take more than one attempt to break this strong resistance. Good support by MAV & it is within upper Bollinger Band channel. Still bullish but must break 970 to progress further. Vol is also picking up, another positive sign.
FKLI - CI Futures are on a strong uptrend. It has crossed the 960 resistance & now targeting 990. Daily MACD almost golden cross, another up day & it will cross. It is within upper Bollinger Band channel. So it looks positive. Any pullback will be supported at 960. As long as this is not breached bullish momentum will be maintained.
Syndicated stocks did not move much yesterday. Just some very small moves either up or down. The daily candles do show slight weakness but after some strong rises last week this is to be expected. As long as cutloss is not breached I will hold & watch. It is still very early days yet. Monday's strong rise in CI & component stocks means retailers stayed on the sidelines yesterday. Lets see what happens over the course of the week.
posted by Dr. Siva @ 7:04 am
3 Comments:
doc,
i dont mean any disrespect but you really cant recommend BUYS on synd stocks based purely on TA alone like i've mentioned many times previously - you need a whole arsenal of weapons!
you called buys on sat after seeing BECs and then a report like this comes out -
http://www.btimes.com.my/Current_News/BT/Tuesday/Frontpage/BT587184.txt/Article/index_html
can you see the orchestration wrt the timing? and how its designed to lead (mislead..) TA practitioners?
you may see BEC, i see dead cats and falling swords - irregardless of your stops.
I think we shall continue to agree to disagree on this matter.
cheers
doraidd has a point. You should look at the bigger picture. Make sure the long term technicals are up. Short term technicals are only good for choosing an entry point
Hi Doraidd & Swifz, we shall agree to disagree. There is never a right way of doing this but I have always stressed the risks involved in these stocks. Its risky business alright but everyone has to be careful. Yes the Priam & Aenaes issue really kicked us in the stomach here today. Is there something more sinister or is it just bad timing? I guess we are small fish & cannot tell for sure. Well thats life.
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