(M) Sdn Bhd 

On Thursday, the Composite Index rebounded 1.71 points to 920.63 points. As indicated by A, 10 days Bollinger band width contracted 6%, suggesting that the KLCI was consolidating. However, as shown on the chart above, the KLCI remained above the Bollinger middle band as well as the uptrend channel, therefore, out look for the KLCI would remained bullish bias. (Study A)

Resistance for the KLCI remained at 930 level, while support is now at the 10 days Bollinger middle band dynamic support as well as the 914 level.

Total market volume on Thursday stood at 1.14 billion shares, a 7.7% higher than yesterday's total market volume. This suggests that the overall market was resilient and was well-participated, and provided that the whole market remains active, sentiment for the market would remains positive. (Study B)

As circled by C, %K of the Stochastic rebounded and was moving closer to the 70% level. If both lines of the Stochastic were to remain above the 70% level, the bullish market sentiment for the short term  shall continue. (Study C)

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