Friday, October 30, 2009

Weekly Summary

FBM KLCI Monthly Chart

Another up month. Monthly RSI and Stochastic indicates that the market can still go up as it is still not yet overbought.

FBM KLCI Weekly Chart

However, looking at the weekly chart, I see a possible break of uptrend line! For me, this means that it is not a time to buy. No solid sell signal yet. Correction still in progress. For the uptrend to continue, KLCI must consolidate between 1220 - 1250.

For the rest of the sectors, I see weakness but am not alarmed yet.

Malaysia Monthly Weekly Daily Note
FBM KLCI Up Up Neutral (-) R=1.3k, S=1.2k. Correction
Finance Up Up Neutral (-) R=11k, S=9.5k. Correction
Construction Up Up Neutral (-) R=250, S=220
Plantation Up Up Neutral (-) R=6.15k, S=5.8k
Property Up Up Neutral (-) R=820, S=760

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