Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 24/01/2011
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As indicated by A, the FBM KLCI is testing the 31-day EMA as well as the T1 long term uptrend line. The KLCI closed at the T1 line on Monday, at 1542.97 points, falling 4.46 points or 0.29%. Beside the 31-day EMA and the T1 line, other support for the KLCI is at 1552.66 WinChart Automatic Fibonacci Retracement.

As indicated by B, total market volume fell 3.02%, but still above the 40-day Volume Moving Average. This suggests that the market is still actively participated. However, if the KLCI should continue falling with high volume, it would mean an increased of selling pressure.

As indicated by C, the Stochastic rebounded slightly after hitting 0%. This suggests a short term over-sold signal. However, the short term movement of the KLCI remains on the weaker side.

The Bollinger Bands expanded 40%, with the KLCI below the Bollinger Middle Band, and the immediate technical outlook for the KLCI is now on the lower side, until the Bollinger Bands could begin to contract, and then, the KLCI would consolidate again.

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