9:17 am – KLCI retesting old high @ 1336
It shud break thru !
Archive for the ‘Follow-up’
Global Equity Technicals with CIMB Research 9 July 2010
Global Equity Technicals
On the bounce – by Nigel Foo / Kong Seh Siang
The S&P500’s bounce past 1,050pts this week indicates that the wave 3(ii) rebound has kicked in. The 50-61.8% retracement of wave 3(i) points to a target of 1,071-1,085pts for the S&P. There are also gaps at the 1,074 and 1,092 levels, which could first be filled before this rebound ends, ideally sometime in the second half of next week. Interestingly, S&P500’s 50-day SMA crossed the 200-day SMA from above this week. MSCI Asia ex-Japan hit a near-term bottom this week and is now bouncing back. The 50-61.8% retracement of the Jun decline is 469-472pts, ideally the end of the rebound for the MAxJ.
Thailand’s SET continues to surprise us as it scaled a new high for the year this week. The current momentum could take the index higher in the immediate term. However, investors should be cautious as we see negative divergence signs in the daily MACD and RSI indicators.
2:30 pm – Revisit’g Submit A Stock 4 Analysis – Handal 5 Mar 2009
See previous posting of Submit A Stock 4 analysis – Handal 5 Mar 2009
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