You just need to monitor the three banking stocks - CIMB, Maybank, and Public Bank.in order to gauge the market sustainability. If you wish the index to stay rallying, you better pray for those three counters. Pray a little bit harder for CIMB.
See the above chart, the last day bullish bar is a sign FBM KLCI still refuse to halt it rally. Come financial crisis or high water, FBM KLCI will just take a short breather and then begin to resume. That last bar alone is good enough for analysts to change their mind after saying the market will consolidate.
FBM KLCI still within the bullish up trend channels (Andrew Pitchfork channels). Yes, I did said that in my last KLCI outlook brief. Also in the my outlook brief prior to that. Not much changes. The only thing i want to add is, some more bulls already hurt. More started to doubt the ability.of the index to sustain .
On KLCI's Bull Run, i guess as long as CIMB still able to carry the torch, you just cannot say it's bearish.. And last time I check, financial analysts still call CIMB a buy.
The banking stocks still the darling stocks. The mainstream analysts' all-time 'overweight' labeled sector. If analysts start saying banking sector as 'underweight', you better sell your shares fast. There no way the index can go north when banking stocks going south. You better remember that.
The banking stocks still the darling stocks. The mainstream analysts' all-time 'overweight' labeled sector. If analysts start saying banking sector as 'underweight', you better sell your shares fast. There no way the index can go north when banking stocks going south. You better remember that.
You just need to monitor the three banking stocks - CIMB, Maybank, and Public Bank.in order to gauge the market sustainability. If you wish the index to stay rallying, you better pray for those three counters. Pray a little bit harder for CIMB.
BTW, say adiós to statistically (Dow Jones - since 1950) best 6-months (Nov-April) of the year. Welcome the worst 6 months of the year which begins with May.
