ZLBT Chats

Thursday, July 30, 2009

TECHNICAL ANALYSIS >>> Composite Index 30/07/2009 / 综合指数 2009年 7月 30日

Composite Index 30/07/2009
As shown on the chart above, the KLCI consolidated around the 1163 Fibonacci Retracement level, closing 3.83 points or 0.3% lower. Resistance for the KLCI remains at 1186 Automatic Fibonacci Retracement. If the KLCI should rebound, the 1163 WinChart Automatic Fibonacci Retracement shall resume to be the support for the KLCI.

On Thursday, the Bollinger Bands Width contracted another 19%, suggesting the KLCI is consolidating. As indicated by A, the KLCI remains supported by the Bollinger Middle Band, and therefore, the immediate outlook for the KLCI is still bullish biased. If the KLCI should rebound above the Bollinger Middle Band, and the Bollinger Bands Width should re-expand, the KLCI could resume its rally.

As indicated by B, total market volume declined 39.4%, with investors remain at the sidelines while waiting for some fresh leads. Generally, it is normal to have lower volume during the KLCI consolidation. However, if the KLCI should resume its rally, volume has to increase and above the 40-day VMA level to confirm the bullish movement.

As circled at C, the MACD histogram is still showing a rounding top. This suggests that the KLCI short term consolidation is still intact. The MACD histogram should rebound and form a rounding bottom, only then, it would suggest that the consolidation has ended, and the KLCI could have a chance to regain some strength.

From the Technical Analysis point of view, the current low fluctuation / consolidation of the KLCI is a typical healthy consolidation, with the KLCI still above the Bollinger Middle Band, the outlook has not turned bearish biased. If the Bollinger Bands Width should continue to contract, it would suggest that the KLCI is gearing up for a new movement, and the direction of the new movement shall only be revealed when the Bollinger Bands Width re-expands
.
综合指数 2009年 7月 30日
如图所示,富时综合指数周四在1163点的胜图自动费氏线的影响下回软,按日微跌3.82点或0.3%。综指阻力水平依然处于1186点胜图自动费氏阻力线,若综指接下来回弹,支持水平则有望维持在1163点胜图自动费氏线。
布林频带进一步收窄19%,这表示综指目前继续处于盘整格局中。如图中箭头A所示,综指依然在布林中频带获得扶持,所以走势还未完全转弱,接下来若综指能在布林中频带反弹,再加上布林频带重新打开,综指将有望恢复涨势。

如图中箭头B所示,马股总成交量周四明显的减少39.4%,这是综指盘整时投资者选择场外观望,等待新的指引所致。一般上当综指盘整时成交量减少是很正常的,不过,若综指盘整结束后恢复涨势,那成交量必须上扬至40天的成交量平均线(VMA),才能确认综指恢复涨势的讯号。

如图中C圈所示,平均乖离的振荡指标(MACD Histogram)依然处于圆顶(Rounding Top)的状态,这表示综指短期技术调整还未结束。通常平均乖离振荡指标必须形成相对的圆底(Rounding Bottom),那才是综指调整结束,有望转强的讯号。

从技术分析的角度来看,综指目前低幅度的盘整是属于典型的调整,只要综指能够在布林中频带获得扶持,那综指的走势并未转弱。接下来若布林频带继续收窄,那将是综指酝酿一个新走势的讯号,而新的走势将要在布林频带重新打开时才能显现出来。

No comments:

Post a Comment