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Straits
Index (M) Sdn Bhd WinChart Technical Analysis Daily Market Analysis |
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| Send to a Friend | Composite Index 11/11/2011 | ||||||||
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As indicated by A, the FBM KLCI fell 3.9 points or 0.26%, while precisely closing at the 14-day EMA at 1468.75 points. This suggests that the 14, 21, 31 EMA is still serving as the dynamic support while the resistance is at 1487 Fibonacci. As indicated by B, total market volume fell 21.78%, but still above the 40-day volume moving average. This suggests that the market overall is still actively participated, and generally, if volume should stay above the 40-day volume moving average, it would help sustain the current uptrend. As indicated by C, the Stochastic fell below 50% on Friday, and although it has not shown any short term bearish signal yet, it implies some weakness of the short term movement. Nevertheless, if the Stochastic should fall below 30%, it would be a short term bearish signal for the KLCI. In conclusion, the short term uptrend of the KLCI remains intact, and with the KLCI above the 14, 21, 31 EMA dynamic support, the immediate technical outlook for the KLCI is still positive. |
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Straits Index (M)
Sdn Bhd |
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