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 indicated by A, the Bollinger Bands Width expanded 22% on Friday, with the KLCI situated above the Bollinger Middle Band. Therefore, the Bollinger Bands signal suggests a bullish biased signal for the KLCI. If the Bollinger Bands Width should continue expanding, with the KLCI remains above the Bollinger Middle Band, there should be more upside room for the KLCI.
Although the Bollinger Bands signal shows some positive signs, the KLCI failed to break out from the 1300 psychological convincingly. Therefore, in case of a false break out, the Bollinger Middle Band would serve as the dynamic support for the KLCI, and if the KLCI should break below the Bollinger Middle Band, it would mark an end to this bullish signal.
Despite the positive signal from the Bollinger Bands Width, total market volume failed to increase. Therefore, it failed to confirm the Bollinger Bands bullish signal. As indicated by B, total market volume declined 3.8% on Friday and failed to break above the 40-day VMA level. Therefore, this shows that the market participation is still low. If volume should increase, the Bollinger Bands signal would be stronger.
As circled at C, the Stochastic %D line breaks above the 70% level by margin on Friday, confirming the %K short term bullish signal. Therefore, if the Stochastic should remain above the 70% level, the market movement for the short term is likely to be 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 1997-2008 Straits Index (M) Sdn Bhd All
rights reserved