Experts From OSK Says Uptrend Still Intact

Technical experts from OSK says FBM KLCI uptrend is intact. No worries be happy. :D

Saw the following posting on The Edge Financial Daily..

• No dent in KLCI’s uptrend, says OSK Research
  Written by Bloomberg
  Wednesday, 19 August 2009 11:17
  
  KUALA LUMPUR: Malaysia’s benchmark stock index, which has risen 32% this year, will remain on a “bullish uptrend” as long as the gauge trades above its 10-week moving average line, said OSK Research.
  
  The 30-member FTSE Bursa Malaysia KLCI Index (FBM KLCI) dropped 2.2% to 1,159.44 in the past two days, about 2.5% higher than its average level of 1,126 for the past 10 weeks, data compiled by Bloomberg show.
  
  “The market has risen so aggressively since bottoming out” from the 50-day moving average in June “that even a more than 50-point correction will not harm the uptrend”, OSK analyst Shin Kao Jack said in a report yesterday. The index faces “no dent” on its gains, he said.
  
  The FBM KLCI’s immediate support lies at the 1,165-point level, followed by the 1,135 level, he said. The next support points after that will be “crucial”, which are the 10-week moving average line and the 200-week moving average, he said.
  
  For the upside, the initial resistance is seen at 1,189, followed by 1,200, he said. At 1,200, the index would be at its highest since June 24, 2008. — Bloomberg
  
  
  This article appeared in The Edge Financial Daily, August 19, 2009.

Hmmm....

So the FBM KLCI can drop 50 points. No worries up trend still intact. The KLCI uptrend is still intact.

However.... hmmm... if one just entered a position based on the numerous buy calls from OSK, I wonder if one should just sit tight?

Can one handle a 50 points drop?

What if it drops more?

How?

Hold ah?

Or buy on dips?

What if the dip turns into a deep? oO

How?

Sell profits and not sell losses?

Ride the horsie?