SMART Trader

MARKET Outlook - looking at how the market is performing and how the chart is forming for the past week and days - there is no clear indication that the Market is in a correction or consolidation. Looking at the bigger chart the Index is still bullish but looking at the Daily chart the index is already in correction. I observed that majority of the stocks are in a "one step forward and two step backward" except for some of the O&G stocks which is back to its up-trend but still sluggish and not aggressive as expected. At this moment I would refrain from any recommendation except to advise investors to hold on to your cash and wait for the right moment to go in again.

Market Forecast for today 29 April – Based on SMART analysis for ACE and SMALLCAP, we are officially on a downtrend for the Daily Chart as the Channel Low was broken with a Black Candlestick followed by a non-reversal Black Candlestick for the following day. Forecast for today is pointing at a weak market with further selling pressure. It will be interesting to watch the KLCI for these 2 days and see how the weekly and monthly chart forms to get a clearer picture of the direction on technical basis.

SMART Explorer sell call have increased from 40% yesterday to 55% today, followed by 30% neutral and 15% still in up-trend.

I will be watching how the monthly Charts unfold to help me make my next decision. Should the Monthly Chart for the KLCI indicate an Inverted Hammer / Shooting Star Candlestick than there is a possibility of Evening Star formation and the index can revisit 1774 but I am looking at my support at 1820.

All the best.

Market Forecast for week 27 April to 30 April.

All Major indices are doing good, I do not see any significant pattern to suggest that market is bearish except for DOW which has been very quiet for the past few days perhaps waiting for APPLE’s result on Monday and quarterly GDP on Wednesday. Anyhow it is shy of only 210 points to hit the all time high which I think will be breached very soon.

KLCI (See Chart) – After failing to close below the support level of lower channel and closed above the upper channel on the daily chart have reassured that the Up-trend is still intact. Our next resistance is 1880 with support level at 1842. Our forecast for next week is Bullish.

Small Cap Index (See Chart) – As forecasted index closed below the channel high and supported by channel low suggesting that consolidation may be coming to an end. Index close at 16878 and the support level is 16825. This index may touch this level on Monday before resuming upwards or open above the channel high which will also reassure of a new mini up-trend (For 4 – 5 days). Our forecast for next week is Bullish.

ACE Index (See Chart) – Just closed on the border of channel high. There is a possibility of one more black candlestick on Monday before resume up-trend. Our forecast for next week is Bullish.

Crude – On the weekly chart is forming a uptrend with some analyst forecast that price could go up to USD70 very soon. This will be good for our O&G counters.

SMART Trader is conducting TA Workshop during the weekend (Saturday and Sunday) for those who wanted to sharpen their Technical Analysis can contact or WhatsApp me at 0123095255.
What you will learn :
1. How to identify an up-trend stock / Bull Market
2. How to calculate the various target price
3. How to do a consolidated analysis for precision stock pick
4. Candlestick analysis
5. Indicators analysis
6. Computerized analysis
What you can achieve after the workshop - You are in control of your stocks not rumours or news.
FEE : RM 850.00
Location - Klang - Jalan Kepayang Opp Maybank