Technical Analysis : FBMKLCI 05/03/2012 富时大马综合指数 2012-03-05

FBM KLCI 05 March 2012

The KLCI had its daily high reaching 1594.72 points, but as it was approaching the 1597.08 historical high, profit taking pulled the KLCI slightly and easing some of the early gains. At the close, the KLCI was at 1589.22, gaining 5.44 points or 0.32%. Resistance for the KLCI remains at 1600 while the support is the 14, 21, 31 EMA as indicated by A.

As indicated by B, total market volume fell 11.14%, with volume below the 40-day Volume Moving Average. This suggests that the market is relatively quiet, as investors stay cautious amid the key index is testing its historical high.

As indicated by C, the Stochastic stays above 70%, in the short-term bullish territory. This suggests that the short-term movement of the KLCI is still positive. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a short-term technical correction.

In conclusion, despite the lower volume, the uptrend of the KLCI remains intact. Even if the KLCI should retreat from near 1600 mark, it is still a normal reaction. Provided that the KLCI should still be supported by the 14, 21, 31 EMA or repeating higher-lows formation, the technical outlook is still positive. 

富时大马综合指数  2012-03-05

富时大马综合指数一度上扬至1594.72点的全日最高，但是在接近综指历史最高1597.08点时因投资者套利而缘故，使得综指稍微回调以1589.22点挂收，按日上扬5.44点或0.32%。综指阻力维持在1600点，支持水平依然是图中箭头A所示的14、21、31天EMA动态支持线。

如图中箭头B所示，马股总成交量减少11.14%，而成交量也继续处于40天的成交量平均线（VMA）以下。马股整体上的箭头还是属于淡静的，同时也暗示者资金流入偏低，表示投资者在综指接近1600点关口时显得谨慎。

如图中箭头C所示，随机指标（Stochastic）还是维持在70%水平以上的短期强势区域里。这表示综指短期的走势目前来说还是偏强的，直到随机指标跌破70%水平为止，届时才是综指短期技术调整开始的讯号。

总的来说，尽管投资者保持谨慎在场外观望，综指涨势至今依然完整的。接下来若综指在靠近1600点遇阻而开始回软的话，也是很正常的。只要综指还是能获得14、21、31天EMA的扶持，或重复形成较高底（Higher-lows）的特征，那综指的技术展望将保持正面。 

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