WinChart Technical Analysis
Daily Market analysis
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As indicated by A, the KLCI ended mixed on Wednesday, closing 5.63 points higher to 1423.15 points while barely supported by the 14, 21, 31 EMA. Nevertheless, the KLCI is still in its consolidation stage with a resistance at 1450 level.
As indicated by B, total market volume increased 21.3%, and managed to break above the 40-day VMA level. Therefore, this shows that the market is now relatively well-participated. If the volume should maintain above the 40-day VMA level, with the KLCI staying above the EMA, the KLCI is likely to improve its movement.
As circled at C, the Stochastic is still staying above the 70% level. Therefore, the short term bullish signal remains intact. As long as the Stochastic is still staying in the short term bullish region, the market movement for the short term is expected to be bullish biased.
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