Market Outlook as at Jan 5, 2015
From the 3 charts below, we can see that the market ended the last week
of 2014 on a weaker note. A close examination will reveal that the
market rose steadily from Dec 22-29 albeit on lower volume. After it
made a high of 1770, the volume picked up. The increased activity on the
last 2 days (Dec 30 & 31) reflects profit-taking or distribution.
If no fresh buying surfaces in the next few days, the market is likely
to commence its slide. Will the market hold above 1700? Will it revisit
the low at 1670-1680? At the time of writing, FBMKLCI was down at 1738.
We will have to wait & see.
Chart 1: FBMKLCI's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)
Chart 2: FBMEmas's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)
Chart 3: FBMSCAP's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)
Note:
In
addition to the disclaimer in the preamble to my blog, I hereby confirm
that I do not have any relevant interest in, or any interest in
the acquisition or disposal of FBMKLCI.
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