(M) Sdn Bhd 

On Tuesday, the Composite Index opened gapped up at 903.76 and attempted to break above the 931 resistance. However the KLCI failed to break above the 931 resistance, and ended mixed at 928.94 points, gaining an insignificant 0.28 points. Therefore, 931 remained a strong resistance for the KLCI while the support is now at 14 days EMA (Exponential Moving Average) as well as the T2 dynamic support. (Study A)

Total market volume on Tuesday gained 10.8%, stood at 711 million shares. Total market volume on Tuesday also touched the 40 days VMA level, suggesting that the market activity was gaining. Nevertheless, the volume must break above the 40 days VMA in order to support the potential break out of 931. (Study B)

As indicated by C curve, MACD histogram stayed flat, giving no clear indication of the short-term movement of the KLCI. If the histogram rises, market sentiment for the short term is likely to brighten up. (Study C)

Straits Index (M) Sdn Bhd
No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828  (5 lines)   Fax: (03) 8941 9828    
Email: info@straitsindex.com
© Copyright 1997-2006 Straits Index (M) Sdn Bhd All rights reserved