In the past few months, KLCI market was remarkably moving upwards. But in a few days, it started moving sideways, which we believe is due to results of votality in market since the country is anticipating its 14th general election results in which some of the stock of companies are politically driven.
Here's a weekly recap on the market outlook for FBM KLCI.
Based on the 6-month period chart, on Feb 8th, we noticed the Red Diamond (sell signal) appeared. There has been slight decrease about 2.19% on FBM KLCI, within the last couple of months. Looking at the Major Green Diamond Buy Signal on Dec 12, 2017, 1729.67 was the closing price. The buy condition has been triggered, observing the bar next day and according to iVSAChart ATA Diamond.
Trend reversal was noted on Dec 13, 2017 with closing price of 1737.66 which indicated Sign of Strength together with both Green Diamond Buy Signals.
Other sign of strengths have been spotted, but it started to weaken since the Red Sell Diamond appeared on Feb 8, 2018. This indicates that the market has started to weaken despite the strong signals that rallied in the past few months.
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Disclaimer: This post is meant for information sharing. It does not served as trading ideas for buy or sell. Please do your research and practice prudent risk management as you are responsible for your own decisions.
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