Double Top or Double Bottom or Triangle?We might have a different view of "chart pattern"...I'm inclined to Bullish View? How about You?
KLSE trade ideas
KLCI - Hovering at a critical levelKLCI index have a low beta compare to other indexes in the world, as negative sentiment affecting the world markets might not be as impactful to KLCI but do note that KLCI is a critical level, anything below 1572 we will likely go back to find support at 1500.
Recommendations:
- Reduce the number of stocks in your portfoilio until we see some buying back in the market
- Secure profits if you have to
- If you have to, be selective of the stocks you choose, such as industries and trend
KLSE UNCERTAINTY (IF BREAKOUT, EXPECTING RECESSION)NOTHING NEW ABOUT KLSE INDEX
BUT SOME TRADER IS WILLING TO BUY CHEAP PRICE OF STOCK DURING THE RECESSION AS FEAR IS AFFECTED MAJORITY OF TRADER
STAY CALM AND CONTINUE MONITOR
KLSE harmonic B crapkemungkinan akan mula mendaki untuk memenuhi permintaan CRAP.
(this only for education and imformation purposes, should not be taken as a trading call)
FBMKLCI Potential Double Top PatternFBMKLCI is showing a possible double top pattern. The black trend line is the strong support. Better to take caution.
KLSE; Bull or Bear Market in the making? Hi everyone, how’s everyone doing?
My current thoughts of the current KLCI.
1. I’ve been watching the KLCI for awhile now, and it seems like we’ve been in this falling wedge pattern for quite awhile now.
2. Writing this at August 5 2019, The chart is telling us that we’re heading for more downward action in the next few weeks.
3. My thoughts are that a possible long entry in the index or the general market would be when the index hits the support line of the falling wedge.
4. And once we rebound from that support line, we will have a short rally before the cycle repeats itself, until we have a strong bullish breakout from the falling wedge, or a bearish breakout that would send us to lower lows and test the previous support levels which are shown in red.
5. Given the current market sentiments, the likelihood for a bearish breakout would be more probable.
6. Most stocks in the energy and construction sector ( i have been trading these sectors for the past few months) have already reached overbought levels.
7. Looking at the current US China trade war, We’ve had a false breakout from the falling wedge. Possibly due to the hopes of interest rate cuts from the Fed in July 2019, which was quickly shut down by a tariff imposed on Chinese goods.
8. Great buying opportunities lies ahead for those who are waiting for an entry into the market.
9. You know it’s the right time to buy, when your friends who normally flex their holdings aren’t doing it anymore.
FBMKLCI From my view only for FBMKLCI. I'm looking for short.
Comment your thought below in comment section.
Thanks.
KLSE break trend line~ looking for longPlan A buy at 1630-1635~TP 1710
Plan B buy at 1580-1585~TP1710
This is not a trade call~just purely on technical analysis
Upside Expectations on FTSE Bursa KLCI- Downtrendline broken
- MACD Momentum change
- Expected to retest key downward trend line
FBMKLCI Weekly Update - 03w05m19yFBMKLCI break the major support of 1600pts but closed 1605pts at the end of week. Rebound might happen (low chance) since RSI rebounded from oversold zone and price is diverged with MACD (lower price but no lower MACD).
Downtrend remain intact until higher low is formed.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support) & 1572 (recent lowest)
FBMKLCI Weekly Update - 02w05m19yFBMKLCI failed to formed higher low. Immediate support at 1617pts is borken and continue a lower low trend.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1617pts
Immediate support - 1600pts (mentally support)
FTSE Malaysia moves lower than expected.Although on the prior move, we knew that the KLCI will move lower to the support and trendline area which indicates the final wave (Z) correction and (e) in triangle. We were hoping that the price will bounce on these 2 support lines. It did for at least 2 weeks and moved 32.61 points above.
As of now, I will stay neutral on Malaysia's economic, if price breaks the support level (red colour line) or breaks the trendline level (blue colour line), then I would say Malaysia's economic will not regain its bull momentum anytime soon. However if it happens otherwise and the index rises up to break the upper trendline, then we are expecting the economic to recover to a new level within 1 to 2 years.
Regards,
Ejaz
FBM KLCI Reached Important SupportBased on my previous observation, KLCI was in the 5th wave rally. But the rally had weaken after it reach near the 4th wave low. The 5th wave had broken and now it will enter into the ABC wave downward.
In today trading, it has reach the very important support line at 1615 pt. If it closing with downwards breakout, the next support line will be at 1553 pt.
The near term concern will be the US-China trade negotiation. If both economy reach a deal, then we will see a correction sideway.
Disclaimer: Individual opinion and analysis. Not for trading purposes nor buy/sell call.
FBMKLCI Weekly Update - 01w05m19yFBMKLCI rebounded from 1617pts and going sideway for the past 4 days and no clear sign from all indicators.
Downtrend remain intact on FBMKLCI until higher low is formed and maintain mid-term target at 1660pts based on the Fibonacci and previous gap.
Immediate resistant - 1643pts
Immediate support - 1617pts
