KLCI : O - 1574, H - 1580, L -1574, C - 1579 (+8.29points / +0.5%)
Volume 0.98 billion, slightly improved.
FBMKLCI is still looking good, with higher volume, and had stayed above support range, not breaking below it since the past few days. Very obedient though, however we have yet to see it breaking upwards the 80 resistance level. Hmm.... Wondering when will that happen? Anytime soon?
I have glanced through a few blue chips counters today; one eg Digi, where i saw manipulation of prices; from up to down, squeezing tightly, throw and then pushed up again, down; and the Q before closing was @ 4.10, finally it ended at 4.00 with a one big lot sold of 51821 shares @ 450pm. What exactly is happening? EPF has been actively acquiring and disposing their shares in this particular counter. Was it done to create volume or perhaps to support the local index from dropping due to foreign funds exit? As the foreign has been the net sellers off late. Or was it the foreign that bought em back again? We shall look at the statistic then later on.
P/S : Another eg; is Nestle with a real huge gap difference from High 65.96 and Low 54.10. Amazing!
Btw, MYR ends higher today @ 3.1645 compare to 3.1845 yesterday.
Let's have a look @ yesterday's statistic.
As its clearly shown from this chart, the foreign are still the net seller, whereby local funds have been supporting by being the net buyer. It's obviously shown that our gov is supporting as of now; when DJIA is up above 1 over %, our index will always be lower than the rest of the Asean markets, whereby when DJIA fell far more than 1%, our market is still doing alright, not much of an effect though.
Hence, we cannot be expecting any big movement for the time being, it will most likely be on sideways movement, until some good or bad local news are out, and from there probably we would roughly know or predict how would our market be moving then.
Let's just follow and act accordingly to the flow.
DJIA +71.48 pts / +0.56% as of 1.12am.
Happy weekends! Enjoy and have a great one!
No comments:
Post a Comment