Just to let you know that KLCI has successfully breaking the second triangle, the first one was 2 weeks ago. If you read my previous post on breaking triangle formation, you should know what I'm talking about.
As you know, many technical analysis traders have identify that there is a head and shoulders found from the index chart on 2 weeks back. For me, I opposed them and I identify it as the 1st attempt of triangle breakout. On yesterday, it is the second triangle breakout, which mostly proven the bull trend is likely to be continued as what I expected earlier. Don't misunderstood me, I don't predict what is going to happen, but I just tell what the index chart tells me.
If you enter during these 2 days, congratulations, because these few days are the golden time to invest some strong growth companies, with the following 4 reasons:
(1) Most of the companies will be announcing 4Q09 financial result soon, starting from mid of Jan 10. Do enter early to grab a lower investment cost.
(2) The total company rising index is positive for 3 consecutive days, it has been negative for the past 3 months.
(3) Positive news from global market, especially from US.
(4) The global and Malaysia economy are recovering, the bull trend will continue to sustain for the coming year. It can tells from the BNM interest rate.
I foresee this second triangle breakout will have more 'power'. However, if it really falls down, we will need to wait for the third attempt.
Happy investing, folks.
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