Tuesday, August 16, 2016
KLCI and Telcos are overbought
KLCI's RSI at 70 now ... we are going into overbought region, and need to check 1725 level as strong resistance(SELL level).
Telco overbought too .... do remember the time I liked whole telco-sector? Today, I dislike and SELL is the idea ... we only buy during FEAR and when these are not in favour.
Axiata ... can see the long white-candle for us to SELL ... if we have bought during oversold position? Now it is overbought ...
Digi : Back to RM5 ... buy when RSI below 30, sell when RSI above 70. get the idea?
Maxis : See ... let the chart speaks ..
We do not need more than 2 INDICATORS in our chart ... a single RSI or at times, MACD is good enough if we know how to use them.
Will rest earlier ... and wake up 5.30am ... to exercise.