KLCI Daily Analysis
27/09/2005
Copyright (c) 1997-2005 SI Logo(M) Sdn Bhd 
All Rights Reserved.

Composite Index Daily Technical Analysis, 27/09/2005

Composite Index closed higher with a gain of 2.58 points at 927.71 points. As shown in A, 10 days Bollinger band width opened another 18%, suggests that there is still room for KLCI to advance. (Study A)

At this moment, support for KLCI is still at the 10 days Bollinger middle band dynamic support, while the stronger support would be the 906 level. On the other hand, KLCI is facing a mild hurdle at the 931.45 Fibonacci retracement line, and the strongest resistance would be the 953 level, which was this year's high.

As indicated in B, total market volume retreated 1.2%, standing at 4.54 million lots. Tuesday's total market volume was above the 40 days VMA (Volume Moving Average) level suggesting that the market participation is still active, thus giving support to the KLCI upward movement. (Study B)

As pointed in the C circle, the MACD line continue to move higher, and staying above the zero level. Since the direction of the MACD line is pointing up, it suggests that the market sentiment is still positive. (Study C)

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