ZLBT Chats

Friday, February 24, 2012

Technical Analysis : FBMKLCI 23/02/2012 富时大马综合指数 2012-02-23

FBM KLCI 23 Feb 2012
On Thursday, the KLCI continue its consolidation, losing another 3.86 points or 0.25% to close at 1556.66 points. As indicated by A, the KLCI is set to test the 14, 21, 31 EMA dynamic support while the immediate resistance remains at 1567 followed by 1600.

As indicated by B, total market volume fell 12.5%, but since the market overall is in a consolidation mood, a lower volume is usually quite normal. Meanwhile, profit taking activities is still strong, with 689 losers over 217 winner.

As indicated by C, the Stochastic is still falling after breaking below 70%. This suggests that the KLCI is having its short-term technical correction. If the Stochastic should break below 30%, it would be a signal suggesting a short-term bearish movement for the KLCI.

In conclusion, despite the consolidation, the uptrend of the KLCI is still intact, as the 14, 21, 31 EMA dynamic support is still supporting the KLCI. Also, the KLCI has not shown any sign of lower-highs, and therefore, we don't see any signs of a bearish reversal yet.

富时大马综合指数 2012-02-23 
富时大马综合指数周四进一步的下跌,按日失守3.86点或0.25%,以1556.66点挂收。如图中箭头A所示,综指目前正要试探142131天综合加权移动平均线(Exponential Moving Average – EMA)的动态支持线,而阻力依然维持在1567点及1600点的水平。





No comments:

Post a Comment