Today KLCI closed at 1275.22 (+2.49, +0.2%) with 383 up counters and 251 down counters. The Bollinger band further open 14% with KLCI stays above middle band. RSI stays at 54, STC %K touches 100, MOM above zero. The MACD histogram formed round bottom and crossed over the triggering line. The traded volume increased by 25% to 575.842mil but still below the average traded volume of about 833mil. The market participation does improved further but still needed more to support up trending.The near term resistance is 1280 then 1288 while the immediate support level is Bollinger middle band (1266 today). Most indicators are positively biased to support the uptrend thus far.
In the weekly chart analysis, so long as the KLCI could stays above 1274 for this week, the uptrend momentum could dwell probably toward next weeks to come, of course must be supported with more trading volume consequently. Though, the immediate supportive level still at 1266, otherwise, we shall review again then.
Review Counter:
LBS & LBS-WA: Since our last review as watched list on 9-Dec, both these counters have appreciated by 25% and 54% respectively within 13 trading days. Especially the last 4 days that make a hefty hike coincide with the KLCI inheriting the breakup recently. Again, this is purely technical chart analysis…..
OF COURSE, BRAVO…BRAVO… to the glove stocks, SUPERMX & ADVENTA, that hike superbly. See review below….
