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14、21、31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。

如图中箭头B所示，马股总成交量周四减少12.52%，但是由于综指处于盘整格局中，因此成交量减少也是很正常的。另外，马股周四的套利活动的“味道”还是很浓郁，全日下跌股项高达689只，而上升股项只有217只，对比超过3以1。这再次的暗示了马股处于盘整的格局中。

如图中箭头C所示，随机指标（Stochastic）自跌破70%水平后，周四继续的下滑并跌破50%水平。这确认了综指短期技术调整的讯号。接下来若随机指标跌破30%水平的话，那便是综指短期进入偏弱格局的讯号。

总的来说，综指继续处于盘整格局中，惟涨势依然未受到破坏。这是因为综指继续获得14、21、31天EMA动态支持线的扶持，同时也还未有形成较低峰（Lower-highs）的特征，也就是综指转势的先兆。 

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