(M) Sdn Bhd 

On Friday, the Composite Index ended mixed again, closing a 0.53 point lower to 922.62 points. As shown by the arrow A, the KLCI remained supported by the 920 Fibonacci Retracement. 920 is also the 10 days Bollinger middle band dynamic support level. (Study A) Nevertheless, T3 remained as the up trend dynamic support while the upper hurdle is still at 931 level.

As indicated by B, total market volume stood at 889 million shares, a 14.9% lower than the previous total market volume. However, volume on Friday was still above the 40 days VMA level, suggested that the market participation was still active. (Study B)

As circled by C, the %K and %D lines are still situated above the 70% lines, which is the short-term bullish region. Therefore, provided that the Stochastic is still situated in the bullish region, market sentiment for the short-term is likely to be bullish bias. (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