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Friday, December 19, 2008

Composite Index 18/12/2008 / 综合指数 2008年 12月 18日

Composite Index Daily Technical Analysis 18/12/2008 By Zhuge Liang

As indicated by A, the Bollinger Bands Width expanded 47% with the KLCI above the Bollinger Middle Band, therefore, it is a bullish signal for the KLCI, as the KLCI rose 2.1%. Therefore, the KLCI has broken above the downtrend channel of T1 and T2. Other than the T1 support line, the 800 points is still an important support level. As long as the Bollinger Bands Width is still expanding, the bullish biased Bollinger Bands signal is expected to continue.

As indicated by B, total market volume increased 48.9%, which suggesting an improvement is market participation. The increase of market participation is definitely a positive sign. Nevertheless, volume above the 40-day VMA level is an important criteria for the KLCI to sustain its bullish movement.

As circled at C, the Stochastic is still rising while above the 70% level, which is the short term bullish region. Therefore, the market movement for the short term is now bullish biased. If the Stochastic should break below 70% level, it would mark an end to the short term bullish signal, and suggest a beginning of a technical correction.

In conclusion, the expansion of the Bollinger Bands Width and the increase of volume would definitely help lifting the market sentiment.

综合指数 2008年 12月 18日

如图中箭头A所示,由于布林频带(Bollinger Band)明显的打开47%,所以综合指数上扬2.1%,使到综指成功的摆脱了T1及T2组成的下降趋势轨道(Descending Treand Channel)。如图所示,综指当前的支持水平除了T1之外,就是布林中频带这到动态支持线,综指再下一道的支持水平则落在800点的胜图自动费氏线。




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