Tuesday, May 22, 2007

Prediction abrakedabraa

KLCI ends +1.5% at 1367.51 in thin volume, just shy of record high 1368.87 as bargain hunting by foreign and local funds picked-up pace; market breadth turned positive late morning with advancers leading decliners 613 to 240. Both foreign and local funds bought blue chips and heavyweights. The rally in China's stocks (benchmark Shanghai Index at new record) had a positive impact on regional markets, noting ringgit's continued strength an added incentive for foreign investors. KLCI tipped to test and breach record high of 1368.87 tomorrow, may rise to around 1370-1375. However the situation stays fragile due to low volume.

(This is only a raw prediction based on `Fibonacci Time Projection' which is not 100% accurate). The potential trend change for KLCI is around end-May or early-June. (see chart, click on image below to enlarge).
Note: The technique calculates a trend change date. It will not indicate itself whether this date will be a high or low, only that a change in trend is probable.


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