Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 05/01/2011
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As indicated by A, the KLCI continued its rally on Wednesday, breaking above the 1556.62 resistance. The KLCI had an intra-day high reaching 1571.85 points, but due to some profit taking activities, the KLCI closed at 1566.17 points, up 14.28 points or 0.92%.

Meanwhile, the Bollinger Bands expanded 27%, with the KLCI staying above the Bollinger Middle Band, and this suggests that the immediate technical outlook for the KLCI is still bullish bias.

As indicated by B, total market volume increased 16.62%, with volume firmly above the 40-day Volume Moving Average. This shows that the market is actively participated and generally, if volume should stay above the 40-day Volume Moving Average, the market sentiment as a whole is likely to stay positive.

As indicated by C, the Stochastic retreated slightly, but still above 70%, and therefore, the Stochastic is still showing a short term bullish signal for the KLCI, until it should break below 70%.

In conclusion, the uptrend of the KLCI remains intact, with strong volume. Technically, provided that the KLCI is still supported by the 14, 21, 31 EMA, the technical outlook shall remains bullish bias.

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