TECHNICAL AND FUNDAMENTAL ANALYSIS

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FBMKLCI Weekly Report - 24/3/2019

March 24, 2019

Technical Analysis

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Short Term

- FBMKLCI entered downward trend on Apr 20, 2019 and it completed 4 waves (ABC) in 7 months.

- FBMKLCI started 5th waves on Feb 22, 2019. There are few important indicator in FBMKLCI 5th waves as below:-

a) Deflation, Feb 2019: -0.4%

b) PMI, Jan 2019: 47.60

c) Unemployment Rate, Jan 2019: 3.3

d) Malaysia Leading Economic Index, Jan 2019: -1.4%

e) GDP, Jan 2019: 4.7

- Refer to economic indicator above, it is high chance that FBMKLCI will continue the 5th waves (downward) in 2Q 2019 and drop below 1649 points (Previous Lowest Point)

Long Term

- Based FBMKLCI history movement, it is trying to complete double top pattern (Reversal Pattern). FBMKLCI will prolong the downward trend until 1500 points

- However, it is unlikely happen due to latest government policy. Stay Tuned.

 

 

 

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