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Saturday, October 6, 2012

Technical Analysis : FBMKLCI 05-10-2012 / 富时大马综合指数 2012-10-05

FBM KLCI 05 Oct 2012
As indicated by A, the KLCI open gap up at 1665.17 points, and had its gains up to 6.85 points. However, soon profit taking pulled the KLCI lower, closing at 1660.23 point while losing 1.24 points. Meanwhile, the KLCI is touching 20-days Bollinger Upper Band, suggesting that the short-term movement is showing an over-bought condition, thus some pullback is likely.
 
As indicated by B, total market volume remains below the 40-day Volume Moving Average, and this shows that the market participation is still not active. Also, this implies that investors are still not feeling confident about the market.
 
As indicated by C, the Stochastic retreats a little after touching 100%. This suggests a short-term over-heating signal, caused by the continuous rising of the KLCI over the short-term period. Some technical correction is likely, but as long as the Stochastic could stay above 70%, it suggests that the short-term movement of the KLCI is still positive.
 
In conclusion, the KLCI has not really corrected since rebounding from 1600. Technically, in order to sustain a healthy uptrend, some consolidation or correction is required. Immediate resistance for the KLCI is at 1668 while the support is at the 14, 21, 31 EMA dynamic support.
 
富时大马综合指数 2012-10-05
如图中箭头A所示,富时大马综合指数周五跳空上扬以1665.17点开市。综指开市后一度上涨6.85,但随后因投资者套利而回软,按日下跌1.24点,以1660.23点挂收。另外,综指已经稍微突破了20天的布林上频带(20-day Bollinger Upper Band),这表示综指短期走势开始处于超买的现象(Over-Bought),因此在近期内有拉回效应的可能。
 
如图中箭头B所示,马股总成交量依然处于40天的成交量平均线(VMA)以下,这表示市场的交投量还未能达到“活跃”的水平。同时也还是暗示着投资者对马股信心不强。
 
如图中箭头C所示,随机指标(Stochastic)达到100%水平后周五稍微的下滑,这表示综指短期的走势的确强劲,但是却处于过热的现象。这都是因为综指在短期内多日上涨所致。因此有技术调整的可能。无论如何,只要随机指标还是能维持在70%水平以上的话,那短期的走势还是偏强的。
 
总的来说,综指上扬多日后,都未曾真正的调整过。以技术而言,若综指能进入盘整格局,或稍微出现回调的话,那将有助于综指维持一个健康的涨势。无论如何,由于综指上涨1668.32点后开始回软,因此暂时的阻力将落在1668点的水平。支持水平方面则是落在142131EMA的动态支持线。
 
祝你好运

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