Boolish

Boolish Updated 

Where is the OANDA:SPX500USD heading? Having experienced 1997-98 Asian Financial Crisis and 2008-09 Global Financial Crisis, I find 2020 Covid Financial Crisis difficult to fathom up to this point. Generally, investors are in 2 state of minds that describe the current market situation: 1) Rational Fear - The pandemic risk of Covid-19 is still present and...

Boolish Updated 

FTSEMYX:FBMKLCI has been on mini recovery bull run, up for 5 consecutive sessions. When will this end and how bad will it be? Technical: the market is heading into a rising wedge after closing the 1369-1419 price gap and expect breakout either side. Price has recovered 50% from the bottom if we use 2 Jan as the recent high. The next level on the upside is to...

Boolish

TVC:SPX daily price moving into a wedge that could trigger further rally or a sharp selloff in the next 10 trading days. LONG-TERM BEARISH: Market has yet to price in the full effects of Covid and oil price war on the economy. This is unprecedented with low inflation and zero interest rates environment as a result of unlimited money-printing in the last...

Boolish Updated 

INDEX:KLSE Bursa is looking for positive news, very much like the world looking for an immediate cure for Covid-19. Any upbeat mood such as helicopter money from Malaysia government will be short-lived because the global recession, depressing oil prices and weakening ringgit will overwhelm the market once the Covid dust settles. Market will revisit 1,400 and...

Boolish Updated 

TVC:DJI As predicted, market failed to sustain its upward momentum in yesterday's session as profit-taking dampened any bullish mood. TA - Closing Price Reversal - opened higher and broke previous session's high but ended closing lower than previous day signals a weak sentiment going into today's session. Expect a lower open today and wild intra-day...

Boolish

I missed the recent rally of MYX:CCK and will not chase its upside. Prefer to wait and see to bargain-hunt this stock in resilient food supply business. Lower cost of imported raw materials more than cover the depreciation of ringgit and Covid situation does not affect food supply business as much as other sectors. Will revisit CCK when Bursa corrects to see...

Boolish Updated 

MYX:ARMADA Armada is pretty much a directional momentum play heavily influenced by oil price movement and severity of recession caused by prolonged Covid pandemic. A near 80% fall from high of 0.54 to 0.115 places it into attractive bargain-hunting territory. I predict a 30% rebound back to 0.308 retracement level if it breaks the immediate resistance around...

Boolish

TVC:DJI Expect profit-taking when market opens today. There will be little conviction for buyers to hold over the Easter weekend due to Covid situation. Market will consolidate next week post-Easter looking for more good news re Covid to break 23,000. The overall bear market is still in Phase 1 and any near-term rebound will be short-lived. As the reality of...