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: | |||
 |
 |
||
As shown on the chart above, the KLCI rebounded 1.31 points on Monday to close at 1370.79 points. Meanwhile, the Bollinger Bands Width is still expanding another 22%, and with the KLCI staying below the Bollinger Middle Band, the immediate outlook for the KLCI is still bearish biased. Nevertheless, support for the KLCI is still at 1340 level, while T1 is still the dynamic resistance for the KLCI.
As indicated by B, total market volume declined 21.9%, and remain below the 40-day VMA level. Again, as the volume remains below the 40-day VMA level, it shows that the market participation is still insufficient. Therefore, the KLCI is less likely to regain its strength.
As circled at C, the Stochastic is still showing a short term bearish signal while staying below the 30% level. Therefore, unless the Stochastic could break above the 30%, the maket movement for the short term is expected to be bearish 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 1997-2008 Straits Index (M) Sdn Bhd All
rights reserved