Winchart Technical Analysis
Daily Market analysis
| Learn Technical Analysis and get your credit hours at the same time. WinChart Technical Analysis Training is Accredited by: | |||
 |
 |
||
On Wednesday, the KLCI continue its sideways movement, closing 7.54 points higher to 1376.93 points. Meanwhile, as indicated by A, the Bollinger Bands Width started to contract in respond to the KLCI sideways movement; this also suggests a consolidation signal. Despite this, the 14, 21, 31 EMA is still rising and serving as the dynamic support for the KLCI. Therefore, if the KLCI should rebound from the rising dynamic support, the uptrend is likely to continue and KLCI could test the important resistance at the 1392.18 level.
Total market volume declined 4.5% on Wednesday. However, it is considered normal or healthy to see a decline of volume when the bench market index is consolidating. This implies that the selling pressure are still mild. Nevertheless, if the KLCI should resume its uptrend, volume must increase while staying above the 40-day VMA level in order to sustain the bullish movement.
On Wednesday, the MACD histogram continues ticking lower, suggests that the KLCI consolidation is still intact. The decline of the histogram also suggests a weakening MACD bullish signal. Unless, the MACD line crossed below the trigger line, the bullish signal shall remains in place.
Find this analysis useful? Why not share it with others? Click Here to send this to a friend
 1st Online Training In Malaysia |
 |
 |
 |
| View the Online Training | More Market Analysis | Find out more about WinChart | Upcoming Events |
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 1997-2007 Straits Index (M) Sdn Bhd All
rights reserved