Saturday, July 10, 2010

Bursa Malaysia Weekly Summary

KLCI Weekly Chart

A buy signal was given in the daily chart. However, the weekly MACD is negative. Therefore, I don't think that this is a strong buy signal. KLCI may still go up, but it wont' go far. Is it because of the impending election (Sarawak and GE) that the market is kept afloat?

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

The Fifa world cup final is at its final leg. After Monday (I'm sure most of you will have a sleepy head on Monday), most probably KLCI stock market will be back to normal. The trading volume is generally on a decreasing trend since Dec 2009. By the way, watch out for a possible formation of a H&S on the KLCI chart. The left shoulder during Nov/Dec 2009, the head during Apr/May and another possible right shoulder that is forming now.

No comments: