Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 03/09/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
As indicated by A, the FBM KLCI retreated slightly on Friday, to close at 1435.67 points, fell 5.4 points. Since the KLCI is now testing the 1436 level, while falling marginally below this level, the immediate support for the KLCI shall remain at 1436 level.

As shown on the chart above, the Bollinger Bands contracted 1%, suggesting that the KLCI is still consolidating. Generally, the target of a consolidation or a technical correction is the Bollinger Middle Band. With the KLCI above the Bollinger Middle Band, the immediate technical outlook shall remain positive.

As indicated by B, total market volume fell 14.2%, but still above the 40-day VMA level. This suggests that the overall market is still actively participated, as the market sentiment as a whole is still on the positive side.

As indicated by C, the MACD is still rising, suggesting that the KLCI is still trending up. Meanwhile, if the MACD histogram should form a Rounding Top, it would suggests that the KLCI is gradually losing strength in this uptrend.

In conclusion, the KLCI is testing the 1436 level, and if the KLCI should return to above 1436, and stand firmly above it, there is a good chance that the uptrend would carry on.

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