Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 04/11/2010
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As indicated by A, the KLCI rose 4.14 points to close at 1511.74 points on Thursday. Resistance remains at 1525 while the support is at 1500. As shown on the chart above, the Bollinger Bands contracted 2%, suggesting that the KLCI is still in a consolidation mode, but with positive technical outlook as the KLCI is still above the Bollinger Middle Band.

As indicated by B, total market volume fell 3.5%, but volume is above the 40-day volume moving average. This shows that the market is still relatively active and the general market sentiment is still positive.

As indicated by C, the Stochastic rebounded, thus staying above 70%, in the short term bullish region. Thus, it suggests that the KLCI short term movement is still bullish bias.

In short, the uptrend of the KLCI remains intact, with the 14, 21, 31 EMA still serving as the dynamic support. Other technical indicators like the Bollinger Bands and the Stochastic are also suggesting a bullish biased movement for the KLCI.

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