Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 12/10/2010
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As indicated by A, the FBM KLCI had its daily high reaching 1493.29 points, but as it was nearing the 1500 level, profit taking activities begin in selected blue chip counters, and pulled the KLCI back, losing 0.84 of a point to close at 1486.57 points.

Despite the KLCI losing 0.84 of a point, the KLCI remains above the Bollinger Middle Band, thus the immediate technical outlook is still positive. Support for the KLCI is at 1480 while the resistance is at 1500.

As indicated by B, total market volume increased 6.9%, and as a result, volume remains above the 40-day volume moving average. This suggests that the market is still well participated, thus implying that the market sentiment is still on the positive side.

As indicated by C, the Stochastic continue to retreat, but still above 70%, in the short term bullish region, thus suggesting that the short term market movement for the KLCI is still positive.

In conclusion, the KCLI uptrend is still intact, as the 14, 21, 31 EMA is still supporting the KLCI as a dynamic support. But the upside room for the KLCI is still limited, unless the KLCI could break above the 1500 level, with strong market volume.

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