Technical Analysis : 富时大马综合指数 09/02/2012 FBMKLCI 09/02/2012

富时大马综合指数 09/02/2012

富时大马综合指数（综指）自上扬突破1540点阻力水平后周四更上一层楼，按日上扬12.14点或0.78%以1565.32点挂收。如图中箭头A所示，14、21、31天综合加权移动平均线（Exponential Moving Average – EMA）继续为综指上扬的动态支持线。综指阻力水平落在1600点，也就是马股有史以来的最高峰。 

如图中箭头B所示，马股总成交量减少24.47%，但是依然能维持在40天的成交量平均线（VMA）以上。这表示马股当前整体上的交投还算是活跃的。而一般来说，若成交量能稳站于40天的成交量平均线以上，将有助于为马股正在改善的投资气氛保温。

如图中箭头C所示，随机指标（Stochastic）已经达到100%水平，这表示综指短期走势强劲，但是却开始有出现超买（Over-bought）的现象。无论如何，只要随机指标能继续维持在70%水平以上，那综指短期还是处于偏强的走势中。

总的来说，综指涨势至今依然是完整的。虽然综指短期走势稍微开始进入超买现象，而若综指接下来出现轻微的调整，也是很正常的。关键在于综指调整后必须继续获得14、21、31天EMA动态支持线的扶持，届时涨势才有望延续下去。 

FBM KLCI 09 Feb 2012

After breaking above 1540, the KLCI continue its rally on Thursday, gaining another 12.14 points or 0.78%, to close at 1565.32 points. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI and the KLCI next resistance is at 1600, which is the all time high of the KLCI.

As indicated by B, total market volume fell 24.47%, but still above the 40-day volume moving average. This suggests that the market overall is still actively participated, and generally, with volume above the 40-day volume moving average, it is likely to sustain the improving market sentiment.

As indicated by C, the Stochastic is now touching 100%, which suggests that the short term movement of the KLCI is indeed bullish, but also started to be over-bought. Nevertheless, as long as the Stochastic is still above 70%, the short term movement of the KLCI is still positive.

In conclusion, the uptrend of the KLCI is still intact, but short term movement is now beginning to be over-heated. It is normal for the KLCI to have some minor correction or consolidation after a few days of rally, and provided that the KLCI is still above the rising 14, 21, 31 EMA after the possible correction, the technical outlook is still on the positive side. 

HAPPY TRADING