Friday, June 04, 2010

Bursa Malaysia Weekly Summary

KLCI Daily Chart

KLCI is still in rebound mode. Looking at the chart, I think that the best KLCI can go is just around 1310. This could be the left shoulder of a H&S formation. Unless there is a new theme, I don't think that KLCI can go any higher because the finance sector has hit the monthly overbought region and based on its historical chart, the bull is pretty over. However, the next selldown could be 6 months down the road. Based on the current movement, I cannot say when will the next selldown begins.

For those that is still holding a position, ask yourself what is your time frame. If you can wait for another 5 years for the next bull, then hold on. Additionally, ask yourself about your mental strength. Only a few can ride out the bear market. Good luck!

Malaysia Monthly Weekly Daily
FBM KLCI Up Neutral Neutral (+)
Finance Up Neutral Neutral (+)
Construction Up Neutral Neutral (+)
Plantation Up Down Neutral (+)
Property Neutral (-) Down Neutral (+)

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