Finally something green. I felt so relieve today.Looking at the chart, I have noted the following:
1. Daily RSI very oversold
2. Daily chart shows a bullish harami
3. Weekly chart shows that 50% retracement has occurred for the move from 883 to 1285
4. The index bounced from 30 Week EMA
My interpretation:
1. Possible temporary bottom at 1090
2. May move up to 1170 - 1210
3. Then maybe another wave of selling for those that are slow in getting out
4. Continuation of bullishess is still too early to tell.
Maybe there will be some short term trading opportunity. I'm going to switch my indicator to RSI and candlestick for some short term trading.
3 comments:
Pah Lah say govt funds not supporting market, but news say PNB aggresively buying. So who is lying? Pak Lah or PNB?
hope you bought more shares during the recent correction. i did.
anonymous, what class/types (like lower liners, mesdap ctrs, blue chips, top volumes ctrs, news ctrs, govt ctrs etc) of counters are you targetting? Thanks.
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