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Saturday, March 6, 2010

TECHNICAL ANALYSIS >> Composite Index 05/03/2010 / 综合指数 2010年 03月 05日

Composite Index 05/03/2010
Together with the positive performance of the regional markets, the KLCI opened gap up on Friday. As indicated by A, the KLCI is testing the 1300 resistance level, and the next immediate resistance is at 1308.52 Fibonacci Retracement. The next resistance for the KLCI is seen at 1354 points while the support is now at 1288.66 Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands expanded 16%, with the KLCI above the Bollinger Middle Band, thus the bullish signal is now resumed, and the bullish movement is expected to continue until the Bollinger Bands should contract.

As indicated by B, total market volume increased 29.6%, while volume is getting closer to the 40-day VMA level. Technically, if volume should stay above the 40-day VMA level, the market sentiment as a whole is expected to improve.

As indicated by C, the Stochastic rebounded, and remain above 70% level, thus the short term bullish signal remains intact, until the Stochastic should break below 70% level.

In conclusion, the Bollinger Bands is showing a bullish signal again, but the KLCI is capped by the 1300 psychological resistance level. If the Bollinger Bands should continue to expand, the bullish biased movement is expected to carry on, and of course, the performance of the regional market places an important role in leading the KLCI as well.

综合指数 2010年 03月 05日
由于区域股市纷纷上扬,富时综合指数也跟随上扬,并且开市以向上跳空形成一个缺口(Gap)。如图中箭头A所示,综指精确的在1300点的整点心理阻力水平遇阻,若综指接下来能上探突破1300点的关口,综指的阻力水平则是1308.52点的费氏线。综指更高的阻力水平处于1354点,支持水平则是刚刚突破的1288.66点的费氏线。

如图所示,布林频带(Bollinger Bands)打开16%,由于综指早已处于布林中频带(Bollinger Middle Band),所以综指开始上扬,一般上综指将有维持上扬的趋势,直到布林频带打开的幅度减少或收窄为止。

如图中箭头B所示,马股总成交量增长29.6%,这使到成交量相当接近40天成交量移动平均线(VMA),以技术而言,若成交量能增加至40天成交量平均值,那马股整体走势将能获得足够承接力量的扶持,这使到市场能够吸纳任何套利的卖压,所以综指继续转强的几率将提高。

如图中箭头C所示,随机指标(Stochastic)回弹,这使到随机指标继续维持在70%以上,这意味着综指的短期走势仍然属于强势中,直到随机指标跌破70%为止。

总的来说,综指在布林频带再度打开的影响下再度走高,惟综指在1300点的关口遇阻,接下来若布林频带进一步打开,综指将有望继续上扬,并且上探1308.52点的费氏阻力线;与此同时,国际股市的走势继续与综指的后市息息相关,对综指的走势有一定的影响。

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