Wednesday February 22, 2012
Our market has risen quite substantially over the past 5 months. If you looked at all the charts below, you can see that we are either at the 2011 high or not far from there. The recent high will pose strong resistance which can cap the current rally. The right strategy is to reduce your position or take some profit & buyback when the consolidation happens. However, if the market can charge through this resistance, then we should quickly jump back in.
Chart 1: FBMKLCI's weekly chart as at Feb 22, 2012 (Source: Quickcharts)
Chart 2: FBMSCAP's weekly chart as at Feb 22, 2012 (Source: Quickcharts)
Chart 3: FBMACE's weekly chart as at Feb 22, 2012 (Source: Quickcharts)
Chart 4: FBMFLG's weekly chart as at Feb 22, 2012 (Source: Quickcharts)
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