On Friday, the KLCI extended yesterday's strong rebound, with an opening gap up at 1634.88 points, closing at its daily high of 1642.95 points, gaining 14.55 point or 0.89%. As indicated by A, the KLCI breaks above the 14, 21, 31 EMA, and is approaching its historical peak of 1655. Support for the KLCI is at 1625.

Total market volume gained 4.1% on Friday, with 1,066,322,700 shares traded, and the most actively traded stock is still Air Asia Bhd, accounted for around 5.4% of the total market volume. However, as indicated by B, total market volume is still unable to break above the 40-day Volume Moving Average, as this suggests that the market participation is still 'insufficient'.

As indicated by C, the Stochastic breaks above 70% by margin, entering the short-term bullish territory. However, this short-term improvement is yet to be confirmed.

In conclusion, gainers on Friday outnumbering losers, with 561 gainers over 209 losers, suggesting that the overall market is in a rebound mood. With the KLCI breaking above the 14, 21, 31 EMA, it brings some improvement of the immediate technical outlook of the local market. Nonetheless, the KLCI is still not yet resuming its previous uptrend.