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: | |||
 |
 |
||
The KLCI has its technical correction after reaching yet another record high on Friday, closing 6.35 points lower to 1434.04 points. As indicated by A, the 14, 21, 31 EMA is still the dynamic support for the KLCI, and if the KLCI should rebound from the dynamic support after this technical correction, it would have a chance to resume its upward movement.
As indicated by B, total market volume declined 22.6% on Friday while staying below the 40-day VMA level. Therefore, this shows that the overall market participation is still insufficient. Generally, a decline of volume during a correction is considered healthy. But if the KLCI should rebound from the dynamic support and resume its uptrend, volume must increase and stay above the 40-day VMA level to confirm the bullish movement.
As circled at C, the Stochastic %K line falls below the 90% level on Friday, suggesting a beginning of a technical correction. If the Stochastic should remains above the 70% level after the correction, the market movement for the short term is still bullish biased.
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