Saturday, April 27, 2013

KLCI: Post Election Rally

In my previous coverage: Nov 2012: Worse Yet To Come, I mention that index will have potential to hit 1500 points. But this was not materialized as the buying support looks strong at 1600! This points level was hitting 7 times from Sep/2012 - Mar/2013. Seem a good sign that market will be charging more upside for the rest of the year. My target of 2000 points mention in 2011: Marching Towards 2000 looks promising now. 

Well it was really a long long roller coaster ride since Oct/2010 from 1500 to reach 2000 target. I would say KLCI is non performing well during this period and our market is crawling and struggling! Can KLCI hit 2000 by Oct/2013 (3 years time) or by year end? Looking forward in post election, I foresee there will be more synergy for the market to run up as there should be more changes going to happen towards a better Malaysia. Let us see how is going to play up in coming months and this will be interesting!
Above is my optimistic view. How about some pessimistic side? Hmmm... There will not be that severe if I would say. The important now is look at support 1620 - 1650 possible can retest. If this level can hold up well there will not much to worry about. The time we need to cautions or ready to jump out is when 1600 support broken and violated. Than my 1500 target will eventually come true! But I still believe and hopefully this will not happen!

Lets looks at some of counters: TAKASO still in accumulating phase, as long as can break out from 25cts will be a good sign to hit my old target of 65cts ~ 80cts, do beware of possible dive to 15cts. PERDANA still doing well and already hitting my 1st target of RM1.50. Now looking for next target which is RM2.00, better to collect below 1.30 if possible. INCKEN look for major support at 0.88/0.90. Target 1.40-1.50 still looks promising. ALAM still prefer to goyang here and there, may correct to reach 0.85-0.90. Target 1.50 still looks promising. IRMGRP got potential to reach double top at 0.40 which was hit on Feb/2013. TEBRAU time to accumulate some as well look at important support RM1.00 with target of RM2.00 . ITRONIC be patient, time will come and target is RM1.35.

Happy Trading and Cheers!

1 comment:

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