FBM KLCI Brief Analysis

Again, it's pretty obvious the market (or precisely FBM KLCI) is still bullish. After the recent high breakout on 2nd April, signaling the buying force is still there, KLCI only took a 2 day-breather (rebounded today).

The  volume is great and  the index still within a bullish trend lines (see the Andrew Pitchfork channel lines on the chart).  Expect it still on bullish mode but watch out for 1,290 pt zone for weakness warning signal.

Plantation sector (another KLCI power sectors) is sluggish  now,  which is the sector suggested not to go. Most of the money pouring into banking stocks, I think.

Property and construction indexes are still rising which have some attractive stocks to go to. I am sure you just can't wait for what our PM has in store for New Economic Model (NEM) which the details to be announced  together with the 10th Malaysia Plan.

CIMB as the darling stock (as darling as it can be) is still leading the index higher and higher.

There' are some new 'developments' on Maybank recently. HwangDBS Vickers has revised the 12 months target price to RM9.00. Now, ponder on this, if Maybank can go to RM9.00, to what level KLCI can go? 

As among the top 5 powerful index influencer, other major stocks should follow too.

CIMB is still not slowing down but I suspect Maybank shall taking over the burden of carrying the Composite Index Run torch soon.

More info:
Fundamental/financial: HWDBS Maybank Target Price
Technical and Concensus: Maybank Stock Analysis

below: FBM KLCI daily chart