Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 23/12/2010
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 was resisted by the T1 descending line on Thursday, and this suggests that the KLCI is still consolidating with the Triangular pattern. Other resistance for the KLCI is still at 1532 while the support is at 1500.

As shown on the chart above, the Bollinger Bands expanded 5%, but this expansion was insignificant. Nevertheless, with the KLCI above the Bollinger Middle Band, the immediate technical outlook is still on the positive side.

As indicated byy B, total market volume fell 0.15%, with volume struggling above the 40-day Volume Moving Average. Generally, if volume should stay above the 40-day Volume Moving Average, the market sentiment as a whole is expected to improve.

As indicated by C, the Stochastic managed to stay above 70%, and therefore, the short term bullish signal remains intact for the KLCI.

In short, the KLCI is consolidating, within the T1 and T2 Triangle. To resume the uptrend, the KLCI has to break above the T1 line followed by 1532, with strong volume preferably. On the contrary, if the KLCI should break below the T2 line, the uptrend could come to an end.

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