Yesterday,
the index plunged in the last minutes of trading- adding 24 points to
the earlier 20-point drop. This caused the FBMKLCI to plunge a
head-spinning 44 points to end the day at 1563.
Chart 1: FBMKLCI's 15-min intra-day chart as at 30 November 2020 (Source: Malaysiastock.Biz)
The daily chart shows that the index is now resting on the horizontal line at or near 1560.
Chart 2: FBMKLCI's daily chart as at 30 November 2020 (Source: Malaysiastock.Biz)
Everyone
with some investment in the stock market would be sitting at the edge
of the seat and woul be wondering "what happened?" It does not help if
you were to look at The Edge CEO Morning Brief this morning. The
headline below is suggesting that there is a reason for the selldown. If
that's true, then the selldown might continue.
At
the opening bell this morning, FBMKLCI has rebounded with a 25-point
gain. Now, it seems the chase for bargains is on. To everyone who was
worried sick last night, I can only wish you a happy hunting today!!
http://nexttrade.blogspot.com/2020/12/market-outlook-as-at-1-december-2020.html