Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend Composite Index 22/03/2011
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As indicated by a, the KLCI is now resisted by the 1513 WinChart Automatic Fibonacci Retracement, gaining only 0.22 of a point to close at 1509.10. Support for the KLCI is at 1498. Meanwhile, the KLCI breaks above the 31-day EMA by margin, and if the KLCI could stay above the 14, 21, 31 EMA, the technical outlook for the KLCI shall turn positive.

As indicated by B, total market volume increased 20.08% on Tuesday, but still below the 40-day Volume Moving Average. Nevertheless, if volume could continue to climb and break above the 40-day Volume Moving Average, it would help lift the market sentiment in general, which is likely to bring a positive impact to the overall investors' confidence.

As indicated by C, the Stochastic is now getting nearer to the 70%, and if the Stochastic could break above 70%, it would be a short term bullish signal for the KLCI, but until then, the Stochastic is still showing a neutral signal right now.

In conclusion, the KLCI is showing some improvement of its technical readings, and generally, if the KLCI could successfully break above the 14, 21, 31 EMA, the technical outlook for the KLCI would turn to positive.

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