Of course at this juncture of market uncertainty, our technical analysis is vulnerable to the market sentiment. Should our KLCI could stay above the Bollinger Middle Band (BMB) and supported from that dynamic level, AND regional markets sentiment is not getting worse than now, then those counters in our KLSE with bullish divergence may have their doors open for rally. For counters that had rallied within these few days, monitor for the higher-low as the next possible entry point. Of course, the risk management particularly individual's cut loss policy MUST be firmly practice to preserve capital from unexpected scenario that may cause KLCI to dip. At any point in time, the BMB level could be treated as immediate cut loss point in most of the cases.
We have observed some counters are having their early stage of bullish divergence technical position BUT is yet to be confirmed by the higher-low position in the reversal trending up direction. The following are some examples of such counters: Daya, E&O, Redtone, HWGB, DBE, EDEN, Ranhill, TSM, Petra, Zelan...etc.
ALERT!!! Should our FBMKLCI turn below Bollinger Middle Band, it is suggested to abort the position respectively, because it is not hard to notice that most of these counters are very vulnerable to our KLCI sentiment.
Some sample charts below are for reference:
