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Wednesday, October 3, 2012

Technical Analysis : FBMKLCI 02-10-2012 / 富时大马综合指数 2012-10-02

FBM KLCI 02 October 2012
Since rebounding from 1600, the KLCI has been rising for the 6th days. On Tuesday, the KLCI closed at 1651.03 points, gaining 7.72 points or 0.47%. As indicated by A, the KLCI is approaching the 1655 historical high, while its support is at 1625.
As indicated by B, total market volume increased 0.66%, however, it is still unable to break above the 40-day Volume Moving Average. This suggests that the market participation relatively still quiet, and also implying that investors are still not feeling confident about the market.
As indicated by C, the Stochastic stays above 70%, and still rising, after breaking above 70% on last Friday. This suggests that the short-term movement of the KLCI is bullish biased.
In conclusion, although the short-term movement of the KLCI is positive, it has not resumed its previous uptrend as it is still capped under 1655. Nevertheless, with the KLCI above the 14, 21, 31 EMA, the immediate technical outlook is on the positive side.
富时大马综合指数 2012-10-02

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