WinChart Technical Analysis
Daily Market Analysis
| 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 by A, the FBM KLCI fell 16.44 points, or 1.14%, and still resisted by the 14, 21, 31 EMA dynamic resistance. Support for the KLCI remains at 1423 Fibonacci Retracement.
As indicated by B, total market volume increased 5.23%, with volume above the 40-day volume moving average. However, the increase of volume together with the fall of the KLCI may imply an increase of selling pressure.
The Stochastic fell back to below 30% on Friday, re-entering the short term bearish territory. If the Stochastic should stay below 30%, the short term movement of the FBM KLCI is expected to be weak.
In conclusion, the technical outlook for the KLCI is still negative for now, with the KLCI below the 14, 21, 31 EMA dynamic resistance.
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