Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 07/01/2011
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As indicated by A, the FBM KLCI gained 3.84 points or 0.24%, to close at 1572.21 points. As shown on the chart above, the Bollinger Bands is still expanding, but with a slower rate or 12%. Also, the KLCI has been staying above the 20-day Bollinger Upper Band for 5 days, and therefore, the KLCI is still likely to have a pullback effect.

As indicated by B, total market volume increased 15.04%, with volume above the 40-day Volume Moving Average. Market participation is still high, and this generally implies that the market sentiment in general is positive.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory. Therefore, the market movement for the short term is likely to be positive.

As the KLCI rally speeds up, it is staying further away from the Bollinger Middle Band as well as the 14, 21, 31 EMA, and therefore, the KLCI is likely to have a pullback. But the uptrend remains intact.

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