KLCI strong enough to break ATH ? High Probability.
With the highly anticipated listing of Speedmart 99, which is poised to be the biggest IPO in Malaysia's history, I estimate that the KLCI will not only breach its all-time high but could push well above the 1,645 mark. This IPO is expected to generate significant market momentum, attracting both institutional and retail investors, which will likely drive the index higher in the short term.
As a mean reversion trader, my approach is to capitalize on such market exuberance by patiently waiting for the breakout to occur. While many might rush to buy into the rally, I'll be observing the price action closely. Once the index reaches 1,665, a level that I believe may represent overextension, I'll be ready to initiate short positions. This strategy allows me to potentially profit from the inevitable pullback that often follows such sharp upward movements, aligning with my mean reversion trading strategy.
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Hin093 : What's your take on 99speedmart ipo?
103574856 : I hope you can support me
mjbond OP Hin093 : should fly as most people I know are waiting for it...