KLSE trade ideas
FBMKLCI - Heading North or South?Laburlah's Daily Complimentary (28-MAR, Wednesday):
FBMKLCI
Technical Analysis Breakdown
1. Trend: Still bullish
2. Chart formation: Cup & Handle/ bullish
3. RSI & Stochastic: Bullish
4. Bollinger band: Widening upward
5. Risk: Jittery US market sentiments
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
FBMKLCI Elliott Wave countPersonal opinion on Elliott Wave count of FBMKLCI.
We are still in the Intermediate wave 2, Primary wave ((3)) of Cycle V.
Long story short, FBMKLCI is poised to create all time high, but the timing cant be said for sure, rest assured, FBMKLCI extremely unlikely to break 1616 support, or else all the previous wave count will be nullified.
Update on KLCIAs mentioned in the previous post we are indeed going through retracement to our KLCI index. However this retracement is accompanied by major global issue, the big retracement of the Dow which recorded a worst single day intraday point drop of 1597 pts (6.26%) on 5Feb2018 before recovering to close down 1175pts. This almost made it equivalent to the previous biggest intraday point drop of 1089 (-6.6%) which happened on 24Aug2015.
So what do we expect about our KLCI? Currently the index is;
1. Seen ended its 5th wave extension and already staged a pull back (after hitting 61.8% FE level @ 1879) to form a selling climax at 1795 level.
2. Rebounded after hitting the selling climax to crawl slightly above the 61.8% FR levels.
3. Supported on EMA20
At the moment a cautious stance need to be taken as the correction waves A-B-C is no where seen to complete. If the EMA 20 support is broken, the support from the FR levels 1827 and 1813 will be the reference.
Currently, at 2.50 am, the Dow is down 587pts. Wish the KLCI good luck on a lovely Friday.
KLCI continue to stay bullishReferring to the previous post,
As projected, the KLCI has reached the 1853 (R2) and currently we might be looking for temporary retracement.
Let the rally continue to stay bullish and see the index testing the next resistance, R3 @ 1866.
FBMKLCI to continue run its course1. The FBMKLCI index continued to stay above most bullish indicators (SMAs, Ichimoku, Donchian etc..) and is moving on sideway range between 1820 - 1830. Overall technical picture is still in a bullish state.
2. Expecting a further gain towards the previous high at 1840 (resistance-1), 1853 (R2) and 1866 (R3) levels.
3. As it is believed that wave-5 is pending to complete, any signs of short-term weakness are likely to be part of the correction in wave 4. No sign of wave-5 failure seen yet.
4. Immediate support is seen at 1813 and the next, at 1800 psychological support and EMA20 support. Short term traders are advised to monitor cautiously at these points.
Volatile within the rangeOverall market during Tuesday wasn't performing well as the profit taking events got weighty. However many stocks recovered towards the end of the day. Seems like the bulls still remain committed.
KLCI shall remain volatile within the support and resistance as per highlighted until either one is breached.
KLCI is still on strong uptrend 1. Strong wave -3 with 6 days of 20-days breakout.
2. Small correction in wave 4
3. Immediate support @ FR 38.2% & psychological support at 1800.
4. Based on fibonacci extension levels, the next immediate target of the next wave could be 1853 and 1866.
Market have high chance to rally on the upcoming events such as C-N-Y and most important anticipation of election. Keep the momentum. GOGOGO!!
KLCI Malaysia & Budget 2018Technical: Break below 200MA, oversold zone, but likely to retest 1700
Fundamental: Watch out for Budget 2018
Malaysia, truly AsiaI think that KLSE (Malaysia index) selling is almost done. It should go down a bit more towards the 50% and 61.8% FIB level and we should see a decent rebound from here. Buy on dips.
Malaysian KLCI breaking down ...Things are not looking too good for the Malaysia Bourse, short term at least.
Breakdown of a rectangle signals a down trend. Unless it morphes. Which it may. =)
#KLSE #KLCI
FBM Kuala Lumpur Composite Index - My OpinionIt goes below the bearish trend line and 20-day moving average. But it looks like within few days recently, it traded sideways. Let's see whether it keeps following the bearish trend or otherwise.
Tell me what you guys think.
Bursa Malaysia KLCI Index just one big pullbackMore like the peak in the index is behind. At moment, sideway ranging situation below previous support an act of distribution. Despite gains in other global indices (for example, new high DJ30), KLCI still in the red year-to-date.
Potential Upside On KLCI ?Double Bottom formed in June.
The price is forming higher low with price breakout recently.
Immediate resistance at 1693.
KLSE chart KLSE seem in correction phase right now .
Will go in range 1550 - 1650 , before make new move ( bullish )
Should not be worried because this is bolehland .
While world having too much crisis , Malaysia keep calm .
FBM: KLCI. Long BiasTechnical - the weekly chart of FBM KLCI had completed the C leg of Bearish Gartley and heading towards D leg. The probability of this pattern turn out to be Bearish Crab is quite low as the D leg of Bearish Crab will be higher than the historical high of FBM KLCI. Therefore, any short order will only be executed wheneven there is a confirmation of trend reversal (whether its Bearish Gartley / Bearish Crab).
The probability of trend reversal happen on 1805 is quite high as the Bearish Gartley will be completed at that level and there is a resistance zone at 1805 - 1820.
Fundamental - Saudi Arabia, Russia agree oil output freeze (source: TheEdge Financial Daily 17/02/2016 Page 2).
This news expected to have high impact to Malaysia as Malaysia is an oil producing country. Therefore rising of oil price would expect to bring in foreign investor to Malaysia and this will push up KLCI index.
DISCLAIMER:
I'm only providing my own thought toward the market but not making any trade call.
