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Wednesday, September 5, 2012

Technical Analysis : FBMKLCI 05/09/2012 - 富时大马综合指数 2012-09-05

FBM KLCI 05 Sept 2012
As indicated by A, the FBM KLCI remains resisted by the 1655 resistance, losing 13.10 points or 0.79% to close at 1641.01 points. The KLCI is testing the 14, 21, 31 EMA dynamic support, and if the KLCI should break below the dynamic support, the current uptrend would be temporary interrupted.
As indicated by B, total market volume increased 1.39%, with volume above the 40-day Volume Moving Average. This suggests that the market is still actively participated. However, since the score board is recording 669 losers over 156 gainers, selling pressure is still strong as investors are actively taking profits.
As circled at C, the MACD histogram failed to sustain its Rounding Bottom formation. Meanwhile, the MACD line is gradually falling, while still above the zero level. Therefore, this suggests that the medium to long term movement of the KLCI is still on the positive side.
In conclusion, since before Hari Raya Puasa holiday, profit taking has been active, and on Wednesday, the profit taking is even more obvious. For now, the KLCI is unable to extend its uptrend, and if the KLCI should break below the 14, 21, 31 EMA, the uptrend could temporary come to an end. But even so, it does not mean that the KLCI would immediate reverse to a downtrend. In fact, the KLCI could still consolidate further, unless the KLCI should form Lower-highs, which by then, would show some weakness of the KLCI. Nonetheless, next support for the KLCI is at 1625, followed by the 1600 psychological level.
富时大马综合指数 2012-09-05
如图中C圈所示,平均乖离振荡指标(MACD Histogram)的圆底(Rounding Bottom)图形因综指忽然下跌而受到了破坏。另外,平均乖离线(MACD Line)缓缓下跌,不过还是维持在零轴以上,这表示综指中长期的走势还未出现转弱的讯号。

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