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Wednesday, March 4, 2009

综合指数 2009年 03月 03日 / Composite Index 03/03/2009

综合指数 2009年 03月 03日

由于受到美国道琼指数创12年新低的拖累下,综合指数周二开市跳空下跌,惟综指随后反弹,收窄跌幅,按日下跌7.82点或0.9%。如图中A圈指示,综指跌破了20天的布林下频带,这表示了综指有超卖的迹象,所以近期内综指有望出现布林频带的拉回效应(Pull-back Effect)。

如图所示,由于综指跌破了869点的胜图自动费氏线,所以869点反过来成为综指目前的阻力水平,综指当前的支持水平则是853点的胜图自动费氏线。

如图中箭头B指示,马股的总成交量减少了13.6%,这使到成交量跌回40天的平均值以下,这也表示了目前市场的交投在综指下跌时再度开始出现淡静的格局了。无论如何,就算成交量继续的处于40天的平均值以下的话,综指的走势还是有进一步下跌的风险。

如图中C圈指示,随机指标(Stochastic)继续的处于30%水平以下,这表示综指的短期的走势还是属于疲弱的。通常随机指标必须先上扬突破30%的水平,那综指才有望出现技术反弹的讯号。

由于综指从三角形巩固出现大跌的格局,所以综指有超卖的迹象,这使到综指有望出现技术反弹,通常综指反弹的第一个目标将是10天的布林中频带,这也是综指的动态阻力线。若综指反弹后还是未能突破10天布林中频带的话,那就表示综指继续处于跌势中,有进一步下滑的风险。


Composite Index Daily Technical Analysis 03/03/2009
As circled at A, the KLCI opened gap down on Tuesday, closing the day 7.82 points lower to 868.74 points. With the KLCI below the 20-Bollinger Lower Band, this suggests that the KLCI is now slightly over-sold. Therefore, there is a chance for a pull-back effect in the near future.

Since the KLCI has broken below the 869 Fibonacci Retracement, the 869 is now the resistance, while the support is at 853 Fibonacci Retracement.

As indicated by B, total market volume declined 13.6% on Tuesday, with volume below the 40-day VMA level. This shows that the market participation is relatively lower again. Therefore, with volume below the 40-day VMA level, the KLCI is less likely to regain its strength.

As circled at C, the Stochastic is still below 30% level, suggesting the short term movement for the KLCI is still bearish biased. If the Stochastic should rebound and break above 30% level, it would be a signal suggesting a beginning of a technical rebound.

With KLCI below the 20-day Bollinger Lower Band, there is a chance of a pullback effect and the first target of the pull-back effect is the 10-day Bollinger Middle Band. Despite a chance of a pullback, the immediate outlook for the KLCI is still bearish biased.
HAPPY TRADING!!!

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