TECHNICAL ANALYSIS >>> Composite Index 05/06/2009 / 综合指数 2009年 6月 05日

Composite Index Daily Technical Analysis 05/06/2009
As indicated by A, the Bollinger Bands Width expanded another 9% with the KLCI above the Bollinger Middle Band, therefore, the KLCI continued its upside biased movement, ended the day 11.53 points higher to close at 1075.50 points. If the Bollinger Bands Width should continue to expand, the upside biased movement is expected to continue.

As shown on the chart above, the KLCI is still supported by the T2 uptrend line as well as the Bollinger Middle Band, while resistance is still at 1077 Fibonacci Retracement.

As indicated by B, total market volume increased 61.4%, with volume returned to above the 40-day VMA level. This shows that the overall market is well-participated. If volume should remain above the 40-day VMA level, there is a good chance for the KLCI to break above the 1077 level.

As circled at C, the Stochastic continued to climb while staying in the short term bullish territory. Therefore, this shows that the market movement for the short term is still bullish biased.

With the Bollinger Bands Width re-expanding, while the KLCI above the Bollinger Middle Band, the immediate outlook for the KLCI is still bullish biased. Provided that the KLCI is still supported by the T2 uptrend line, and volume is still above the 40-day VMA level, the KLCI is likely to return to its uptrend after its consolidation.

综合指数 2009年 6月 05日

如图中箭头A所示，综合指数的布林频带（Bollinger Bands）进一步打开9%，而综指继续处于布林中频带以上，所以综指按日上扬11.53点，以1075.50点挂收。接下来若布林频带能够继续打开的话，综指将成功恢复上扬的格
如图所示，T2 的上扬趋势线及布林中频带（Bollinger Middle Ban）依然是综指上扬的动态支持水平，综指阻力水平依然是1077点胜图自动费氏阻力线。

如图中箭头B所示，马股总成交量增加61.4%，使到成交量明显突破40天的成交量平均线（VMA），这表示市场有望恢复交投活跃的投资气氛，接下来若成交量能够维持在40天的平均值以上，那将有助于综指突破1077点的阻力水平。

如图中C圈所示，随机指标（Stochastic）继续上扬，并达到100%水平，这表示综指短期走势热炽，也有稍微过热的迹象。无论如何，若随机指标能够继续保持在70%水平以上的话，那综指短期的走势还是属于强势中。

由于布林频带再度打开，加上成交量明显增加，综指恢复上扬格局，惟未能突破1077点的阻力水平。无论如何，只要综指能够继续获得T2上升趋势线扶持，再配合成交量维持在40天的成交量平均值以上，那综指后市有望看高一线。换句话说，若下周综指跌破T2趋势线，那综指将有技术调整的可能。