TECHNICAL ANALYSIS : Composite Index 17/08/2010 / 综合指数 2010年 08月 17日

Composite Index 17/08/2010

On Tuesday, the Bollinger Bands continues to expand, with the KLCI above the Bollinger Middle Band, thus the KLCI continues its rally, gaining another 7.89 points or 0.6%, to closes at 1378.47 points. Resistance for the KLCI is at 4000 points while the support is at 1340.63 WinChart Automatic Fibonacci Retracement.

Technically, with the KLCI above the Bollinger Middle Band, the immediate technical outlook is on the positive side, as long as the Bollinger Bands is expanding. If the Bollinger Bands should begin to contract or the expansion rate decreases, the rally would slow down.

As indicated by B, total market volume increased 14.3%, thus it is still above the 40-day VMA level, suggesting that the overall market is well-participated, and the market sentiment as a whole is expected to stay positive.

As indicated by C, the Stochastic remain above 70%, in the short term bullish territory. Therefore, the market movement for the short term is still bullish biased, until the Stochastic should break below 70%.

The KLCI managed to return to above the 14, 21, 31 EMA, and therefore, the 14, 21, 31 EMA has resumed its role as the dynamic support, and as long as the KLCI is supported by the 14, 21, 31 EMA, the uptrend shall remains intact.

综合指数 2010年 08月 17日

由于布林频带（Bollinger Bands）继续打开，所以富时综合指数进一步上扬（参考箭头A），以1378.47点闭市，按日上扬7.89点或0.6%。综指当前的阻力水平处于1400点的心理阻力水平，支持水平则落在1340.63点的费氏支持水平。

以技术分析而言，当综指处于布林中频带（Bollinger Middle Band）以上时，若布林频带持续的打开，这表示综指继续有向上的动力；一般上，综指将继续上扬，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，马股的成交量在综指连续3个交易日上扬的刺激下，增加14.3%，这使到成交量继续的保持在40天成交量平均值（VMA）的水平以上，这显示市场的交投及承接力量增加，通常这对综指的后市继续转强有利。

如图中箭头C所示，随机指标（Stochastic）目前处于70%以上的水平，这是综指短期走势处于上扬趋势的讯号。换句话说，综指将继续处于一个短期上扬的格局，直到随机指标跌破70%为止。

综指自在31天加权移动平均线（EMA）上获得扶持后回弹，综指连续上扬3天，接下来只要综指继续在EMA上获得扶持，综指的中期走势将有望继续转强。短期内，只要布林频带进一步打开，综指将有望维持短期上扬的格局，直到布林频带打开的幅度减少或收窄为止。