| KLCI
Daily Analysis 19/07/2005 |
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1997-2005 (M)
Sdn Bhd All Rights Reserved. |
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Composite Index Daily Technical Analysis, 19/07/2005
Composite Index ended mixed on Tuesday's trading with a mild gain of 1.7 points, closing the day at 916.78 points. Currently the resistance for KLCI remains at 921.56 WinChart Automatic Fibonacci Retracement line while the support is at 909.58. In addition, KLCI is still situated inside the ascending wedge with a dynamic resistance of W1 and the dynamic support of W2. (Study A) Total market volume for the day decreased slightly, stood at 4.43 million lots and failed to reach the 40 days VMA level. This indicates that the market is relatively quite, thus insufficient to support any rally at this amount of trading volume. (Study B) %K of Stochastic rebounded on Tuesday, and now situated slightly above the 70% level in the short-term bullish zone. As long as we see Stochastic staying above the 70% level, short-term market sentiment remains positive. (Study C) |
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