Thursday, March 24, 2005

Rebound or reversal?

KLCI opened much lower today, an reaction to DJI. But was pushed up eventually. Nice reversal candle. Hmmm...looks like rebound will go to 890 and...maybe beyond because of bullish divergence.

Very happy today as the decision that I have taken yesterday turns out to be right.

Avenue: Rumours of restructuring pushed it above resistance 0.70, next resistance is around 0.77-0.79. Must be careful, since it is overbought.
Talam: Rebound. Will take any chance to reduce my lost for this counter.
Talam: Reversal candle. Should go higher.

Tomorrow, KLCI should go higher as DJI is expected to rebound from oversold position. Hopefully this is the journey to 1000.

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