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On Friday, the Composite Index ended strongly, gaining 13.84 points to 927.85 points. As shown on the chart above, the KLCI was indeed trending in the up trend channel. Although the KLCI broke above the T1 marginally, T1 remains a resistance for the KLCI, and the next resistance would be the 931.66 WinChart automatic Fibonacci retracement line. Support for the KLCI is at T2 dynamic support as well as the 914 level. (Study A)

Total market volume on Friday stood at 952 million shares, a 39.6% increase from the previous total market volume. At the moment, the volume is still healthy suggesting that the market is well-participated with good liquidity. (Study B)

%K of the Stochastic touched the 100% level, which is the short-term over-bought level, while the %D line is still situated in the short-term bullish region. Immediate outlook for the KLCI could be over-bought, but provided these lines are still above the 70% level, market sentiment for the short-term is still expected to be bullish. (Study C)

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