FKLI Spot >>> Technical Chart 19 Mar 2012

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Technical Analysis : FBMKLCI 16/03/2012 富时大马综合指数 2012-03-16

FBM KLCI 16 Mar 2012

On Friday, the KLCI opened higher, but during the afternoon trading session, it started to weaken before falling 7.98 points or 0.51% to close at 1571.40 points. As indicated by A, the KLCI is re-testing the L1 uptrend line, as well as the 14, 21, 31 EMA dynamic support again. Resistance for the KLCI stays at 1597.08 or 1600.

As indicated by B, total market volume gained 77.56%, with volume above the 40-day Volume Moving Average. However, most of the heavily traded counters are low-priced stocks, and therefore, the increased of volume failed to reflect any improvement of investors confidence.

As indicated by C, the Stochastic falls below 30% on Friday, re-entering the short-term bearish territory. If the Stochastic should continue to stay below 30%, the short-term movement of the KLCI is likely to stay weak.

In conclusion, if the KLCI should break below the L1 uptrend line, the uptrend will be temporarily interrupted. However, it does not mean that the KLCI would immediately reverse and form a downtrend, not until the KLCI has formed lower-highs, which is one of the characteristic of downtrend formation.

富时大马综合指数  2012-03-16

富时大马综合指数周五一度开高，但在午盘后开始回软，更在收市前下跌，以1571.40点挂收，按日下跌7.98点或0.51%。如图中箭头A所示，综指再次试探L1的上升趋势线及14、21、31天EMA的动态支持线。综指阻力依然是1597.08点及1600点的整数水平。

如图中箭头B所示，马股总成交量增加了77.56%，并上扬突破了40天的成交量平均线（VMA）的水平。不过，由于周五活跃的股项多数是低价股，因此这成交量的增加，未能真正反映出投资者信心回笼的讯号。

如图中箭头C所示，随机指标（Stochastic）周五下跌，并稍微跌破30%水平。若随机指标接下来还是处于30%水平以下的话，那表示综指短期走势再次进入偏弱的格局。

总的来说，综指再次试探上升趋势线，若接下来跌破了L1线，那综指涨势将会受到中断，但是却不表示综指将立即转为跌势。除非综指跌破L1线后再形成较低峰（Lower-highs）的特征，届时综指才有形成跌势的讯号。

祝你好运

FKLI >>> Previews / Technicals 16 Mar 2012

Preview
Expect futures to trade range bound with an upwards bias after US stocks advanced last night and the S&P climbed to its highest level since the 2008 mortgage crisis. Investors’confidence is buoyant as the US continues to churn out betterthan-expected economic data, lending thought that the global economy is making ground into its recovery.

Back home, FBMKLCI settled at 1579.38, up 0.23 percent. Trading was uneventful as the index set in to consolidation mode due to a lack of fresh leads. The index was sold down during the AM session, however recovered in the PM session with late buying interest at market on close helping to push the index into positive territory. Banking counters CIMB and Maybank were the leading movers. Market sentiment improved with futures trading at a 2.5 points premium to the underlying cash.

 

Technicals
Futures settled at 1582, up 0.35 percent. Futures started the day off on a positive note, opening with a gap-up, then proceeded to trade within a tight range of circa 4 points for the majority of the day. A look-a-like spinning top candle was formed indicating indecisiveness in the market as investors tread cautiously further highlighted by the light volume. Futures now trades well above its 20-day moving average. As such, support and resistance levels pegged at 1576 and 1590 respectively.

Overnight Leads

The S&P 500 closed above 1,400 for the first time since the 2008 financial crisis on Thursday as stocks resumed the upward climb that has produced a steady stream of gains this year.

Intraday Strategy

Aggressive trade may long with a stop on or below 1576.0

Technical Charts >>> FKLI / FCPO 13 Mar 2012

FKLI

Rebound Unsuccessful

Another technical rebound anticipated around or before 1558 region.

Volatility expected as CPO head towards 3500 target.

 FCPO

Stormy Wave 5 Ahead 

FKLI : Preview & Technical Outlook 13 Mar 2012

PREVIEWS
Expect futures to trade range bound today after a relatively flat performance in the overnight US markets as investors wait for clues in regards to monetary policy from the Federal Open Market Committee later on today. Back home, FBMKLCI settled at 1564.75, down nearly 1 percent. The index gradually traded lower throughout the day as investors indulged in profit taking activities. Furthermore, as news filtered through that China reported a trade deficit of $31.5bn for the month of February, its largest deficit for over a decade, concerns that deeper economic issues in the second largest economy may arise. A mixture of counters were sold down, with Petronas Chemicals, Sime Darby and Axiata amongst the leading stocks. Market sentiment remained neutral as futures and the underlying cash are almost at par. 

TECHNICALS 
Futures settled at 1565.0, down 0.76 percent. From the onset, futures came under selling pressure as the bears pushed prices lower throughout the trading sessions. A long black candle was formed from the day’s trading action as futures settled below its 20-day moving average for the first time in just over 2 months.

Further indication of a bearish trend developing is evident from the bearish divergence course futures is now on. As such, support and resistance levels are pegged at 1558 and 1574 respectively. 

OVERNIGHT LEADS
Defensive names rallied in an otherwise flat day for Wall Street on Monday as investors paused after recent gains and looked ahead to the Federal Reserve's monetary policy statement.

Intraday Strategy 

Aggressive trade may long with a stop on or below 1558.0.