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Wednesday, November 5, 2008

综合指数 2008年 11月 4日 Composite Index 04/11/2008

Composite Index Daily Technical Analysis 04/11/2008 By Zhuge Liang

As indicated by A, the KLCI failed to sustain its early gains, ended with a Doji candlestick gaining with only 6.23 points. The narrow candlestick of the KLCI suggests a mixed sentiment for the market as profit taking activities increased. If the selling should remains strong, the KLCI would end its technical rebound. Support for the KLCI is at 900 points and 887 Fibonacci Retracement, while the resistance is at 940 Fibonacci Retracement.

As shown on the chart, the Bollinger Bands Width expanded 0% on Tuesday, suggesting the KLCI is at a critical situation. If the Bollinger Bands Width should expands with the KLCI above the Bollinger Middle Band, it would be the bullish biased signal for the KLCI. On the other hand, if the Bollinger Bands Width should expands with the KLCI below the Bollinger Middle Band, it would be a bearish biased signal for the KLCI.

As indicated by B, total market volume increased 13.6%, with the volume clearly above the 40-day VMA level. Therefore, in short, the market is actively participated.

As circled at C, the Stochastic is still above the 70% level, which is the short term bullish region. Therefore, as long as the Stochastic could maintain above 70% level, the short term bullish movement is expected to continue. If the Stochastic should break below 70% level, it would end the current technical rebound.

In short, some increase of selling pressure is seen after the KLCI rose for 4 consecutive trading days. Therefore, more buying interests is required to off-set the selling pressure, in order for the KLCI to continue its rally.


综合指数 2008年 11月 4日 By Zhuge Liang


如图所示,布林频带(Bollinger Band)打开的幅度为0%,这表示综指接下来是关键性的时机;因为若布林频带接下来开始打开的话,那综指将出现“布林反转讯号”,那综指的后市将有望更上一层楼,惟综指届时必须要维持在布林中频带(Bollinger Middle Band)这动态支持线上扬。




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