Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 02/09/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
As shown on the chart above, the Bollinger Bands expanded 10%, with the KLCI above the Bollinger Middle Band, thus the immediate technical outlook for the KLCI is still on the positive side. The KLCI broke above the 1436 resistance, making a 30 months new high, to close at 1441.07 points, gaining 9.11 points. Resistance for the KLCI is now at 1500 level while the immediate support is at 1436.

The KLCI rebounded from the 31-day EMA in July 6th and 12th of August, thus the 14, 21, 31 EMA is still serving as the long term dynamic support.

As indicated by B, total market volume increased 13.3%, with volume above the 40-day VMA level. This suggests that overall market is well-participated, as the market sentiment as a whole is still on the positive side.

As indicated by C, the Stochastic is still on the higher side, suggesting that the short term movement for the KLCI is still bullish biased. Nevertheless, if the Stochastic should break below 70%, it would mark an end to the short term bullishness.

In conclusion, the KLCI uptrend is still intact and and breaking above the 1436 resistance (which is the level of the right shoulder pattern of the Head and Shoulder Top pattern of February, 2008) Immediate technical outlook for the KLCI is bullish.

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 1997-2010 Straits Index (M) Sdn Bhd All rights reserved