KLCI ended higher on Friday, gaining 5.87 points to 906.34 points. As shown on the chart above, the KLCI managed to stay above the 900 level while breaking above the 14 days EMA marginally. As indicated by A, 14, 21, 31 EMA remained as the dynamic resistance to the KLCI. (Study A) While the immediate support is now at the 900 level and followed by the 883 Fibonacci Retracement.

Although the KLCI managed to stay at above the 900 level, total market volume ended 32% lower than yesterday's volume. Nevertheless, volume is still below the 40 days VMA level suggested that the market participation was still insufficient. (Study B)

As pointed out by C, %K of the Stochastic has breached above the 50% level with %D breaking above the 30% level. This suggested that the short-term bearish sentiment has ended, and Stochastic suggests a neutral short-term market sentiment. (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