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Friday, October 19, 2012

Technical Analysis : FBMKLCI 19/10/2012 / 富时大马综合指数 2012-10-19

富时大马综合指数 2012-10-19
总的来说,虽然马股周五交投量与交易总值都偏高,但是美中不足的偏偏是下跌股项明显多过上升股(409只跌 / 294只起)。因此,这反而反映出偏高的交投量与交易市值是投资者活跃套利所致。主要原因是因为综指正在试探1668点的重要阻力水平,投资者在保持谨慎之下选择避免在周末持票才套利离场。无论如何,就算是套利活动活跃,也不影响综指目前正面的技术展望,这是因为综指继续获得142131EMA动态支持线的扶持。
FBM KLCI 19 Oct 2012
As indicated by A, the FBMKLCI tested the 1668 resistance with strong volume on Friday, with its intra-day high reaching 1670.16 points, making yet another historical new high. However, due to strong profit takings, the FBMKLCI failed to close above 1668 and only closed at 1666.35 points, gaining only 0.93 of a point or 0.06%. Therefore, the immediate resistance for the FBMKLCI is still at 1668 while the support is the 14, 21, 31 EMA dynamic support.
As indicated by B, total market volume increased 6.27%, with volume above the 40-day Volume Moving Average. This shows that the market is actively participated. Not only that, the market turnover value also increased 42.5%, hitting RM 21.86 Billion, which is the highest in 3 months. This suggests that not only low-priced stocks are actively traded, there were some blue chips as well, which includes TM, and Axiata.
As indicated by C, the Stochastic remains above 70%, in the short-term bullish territory. This suggests that the short-term movement of the FBMKLCI is still positive.
In conclusion, although the market trading volume and turnover value has increased, losers outnumbered gainers, and this is actually reflecting that profit taking is generally dominant on Friday, as investors are taking caution ahead of the weekend, and choose to take profit on Friday, as they are unsure if the FBMKLCI could successfully break above the 1668 resistance. Nevertheless, despite the slightly stronger selling pressure, the technical outlook for the FBMKLCI remains positive, as the FBMKLCI is still firmly above the rising 14, 21, 31 EMA dynamic support.

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