Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 19/01/2011
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 y A, the FBM KLCI had an intra-day low reaching 1561.87 points, but it managed to rebound right below closing, ended the day at 1566.51 points, downed 3.53 points or 0.22%. Support for the KLCI is at 1552.66 WinChart Automatic Fibonacci Retracement while the resistance is at 1567.95 points.

Meanwhile, the Bollinger Bands contracted 43%, and this suggests that the KLCI is still consolidating, but since the KLCI is below the Bollinger Middle Band, the immediate technical outlook for the KLCI is on the lower side.

As indicated by B, total market volume fell 4.22%, but still above the 40-day Volume Moving Average. Generally, the market is still actively participated, but if volume should continue to fall, the market sentiment could turn weaker.

As indicated by C, the Stochastic fell below 70%, ended the short term bullish signal. If the Stochastic should break below 30%, it would be entering the short term bearish territory, and the KLCI short term movement is likely to turn weak.

In conclusion, the KLCI is still consolidating, but gradually turning weaker as the KLCI has broken below the Bollinger Middle Band. Nevertheless, the Bollinger Bands has not expanded, and therefore, it has not confirmed any bearish movement signal for the KLCI yet.

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