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Thursday, January 22, 2009

综合指数 2009年 01月 21日 / Composite Index 21/01/2009

By Zhuge Liang

综合指数 2009年 01月 21日


如图所示,布林频带(Bollinger Band)打开17%,再加上综指处于布林中频带以下,所以综指继续的下滑。由于布林频带打开的幅度有减少的迹象,这显示综指下跌的趋势也有缓和下来的痕迹,无论如何综指将继续的处于下跌的趋势中,直到布林频开始出现收窄的情形为止。




Composite Index Daily Technical Analysis 21/01/2009

On Wednesday, the KLCI continued its decline, breaking below the 887 Automatic Fibonacci Retracement level, and therefore, the 887 Fibonacci Retracement is now the immediate resistance line for the KLCI, while the next support is at 860 and 853 Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands Width expanded 17% on Wednesday, with the KLCI below the Bollinger Middle Band. Therefore, the bearish biased movement of the KLCI remains intact. If the Bollinger Bands Width should contract, it would be a signal suggesting a consolidation for the KLCI.

As indicated by B, total market volume declined 2.5%, and still remain below the 40-day VMA level, suggesting that the overall market participation is still low. With the market lightly participated, the KLCI is less like to regain its strength.

As circled at C, the Stochastic rebounded after hitting 0% level, and about to cross above the %D line. If the %K line crosses above the %D line, it is usually implying a technical rebound is likely to take place. But still, the Stochastic has to break above the 30% level to signal a beginning of a technical rebound. To sum up, the immediate outlook for the KLCI is still bearish biased, despite a slightly implication of a possible technical rebound from the Stochastic.


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