Technical Commentary 30/4/10

Thanks to overnight DJI gained 122 points, FBMKLCI opened with gap up and continued to break out the resistance level 1347.61 at an intra-day high of 1348.15 before closing at 1346.38 (+10.52, +0.79%). FBMKLCI considered as bullish however the overall market volume still traded below 40 days VMA. There are 436 up counters and 265 down counters with the market total traded volume slightly decreased by 1.1% to 889 MIL shares.

Today’s FBMKLCI top 5 gainers components are AXIATA, TANJONG, GENTING, MAYBANK, and MMCCORP. The top 4 lagging components (only 4 losers today) are UMW, PETGAS, MISC, and KLK.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded 30%; this indicates FBMKLC is bullish biased for short-term.

RSI further increased to 59.44; this indicates FBMKLCI is slightly bullish biased for short-term.

STC %K further increased to 93.42 and the %D also increased to 79.85. This indicates FBMKLCI is bullish biased for short-term.

The MACD line had hooked up but has not touch the trigger line yet and the histogram is forming a rounding bottom; this indicates FBMKLCI is slightly bullish biased for short-term.

Summary
Most of the indicators above indicate FBMKLCI is bullish biased now. If the market volume can further increase to exceed 40 days VMA, we expect the up-trend will continue. Otherwise FBMKLCI will continue to go sideway between 1324.8 support level to 1347.61 resistance level for short term.

The nearest possible resistance levels for FBMKLCI 1340.8, 1347.61 and L1 dynamic resistance levels. The nearest possible support levels are 1340.8, 1334 and 1324.8. Please refer to the chart below for better understanding.

Follow Up Counters for 3-May-2010:

Follow Up Counters for 30-Apr-2010:

Technical Commentary 29/04/10

FBMKLCI rebounded above the resistance level 1334 and consolidated until the closing at 1335.86 (+2.69, +0.2%). Right now FBMKLCI had resumed above the Bollinger mid-band but it was considered as sideway. There are 347 up counters and 363 down counters with the market total traded volume slightly increased by 8% to 897.9 MIL shares. The market volume is just slightly below 40 days VMA today.

Today’s FBMKLCI top 5 gainers components are DIGI, GENM, GENTING, PLUS, and PETDAG. The top 5 lagging components are MMCCORP, TENAGA, CIMB, AMMB, and KLK.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band reduces to 0%; this indicates FBMKLC is sideway biased for short-term.

RSI further increased to 52.61; this indicates FBMKLCI is sideway to slightly bullish biased for short-term.

STC %K hooks up again above threshold 70 at 75.66 and the %D also increased slightly to 78.08. This indicates FBMKLCI is sideway to slightly bullish biased for short-term.

The MACD line went sideway and the histogram went sideway as well, pending to form another rounding bottom; this indicates FBMKLCI is sideway biased.

Summary
Most of the indicators above indicate FBMKLCI is sideway to slightly bullish biased now. The increased of market volumes was mainly due to TALAM was under selling pressure with 155 MIL shares exchanged today. KNM also traded with high volumes (93 MIL shares) but it was oversold and the investors started to rush in. The nearest possible resistance levels for FBMKLCI 1340.8 and 1347.6. The nearest possible support levels are 1334, 1324.8, 1318 (Fibo23.6%). Please refer to the chart below for better understanding.

Follow Up Stocks 29-Apr-2010:









Case Study:

Technical Commentary 28/04/10

Overnight DJI was downed 213 points due Standard & Poor's downgraded Greece's debt to junk and cut Portugal's debt two notches to A-. The Asians’ bourses and our market cannot escape from the bad news, FBMKLCI opened at 1330.53 (-9.18) before gaining some strength and closed at 1333.17 (-6.55, -0.49%). Right now the index had broken down below the Mid-band, 1334 support level and the L2 trend line.
There are 236 up counters and 472 down counters with the market total traded volume decreased by 14.8% to 831 MIL shares. The market volume is just below 40 days VMA today. This means that the investors are getting caution.


Today’s FBMKLCI top 2 gainers (only 2 gainers today) components are TENAGA, and AXIATA. The top 5 lagging components are PETDAG, GENTING, DIGI, AMMB, and MMCCORP.


FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band opened 2%; this indicates FBMKLC is sideway to bearish biased for short-term.


RSI further decreased to 40.12; this indicates FBMKLCI is sideway to bearish biased for short-term.


STC %K was hooked down below 70 threshold at 57.28 and the %D decreased slightly to 75.90. This indicates FBMKLCI is sideway to bearish biased for short-term.


The MACD line had hooked down and the histogram had failed to form a rounding bottom; this indicates FBMKLCI turn bearish.


Summary
Most of the indicators above indicate FBMKLCI is sideway to bearish biased now. The decreased of market volumes indicate some of the investors started to sideline.
The nearest possible resistance levels for FBMKLCI are, 1334, the Mid-band and 1347.6. The nearest possible support levels are 1321, 1318 (Fibo23.6%) and 1308. Please refer to the chart below for better understanding.

Follow up Counters:
The market sentiment is getting more negatively biased. So we advise to reduce your exposure as much as possible. Please executes your trailing stop plan closely to preserve your capital.

Technical Commentary 27/04/10

FBMKLCI was traded sideway again today and closed below the resistance 1340.8 at 1339.72 (-0.35, -0.03%). There are 178 up counters and 502 down counters with the market total traded volume increased by 21.9% to 975 MIL shares. The market volume is above 40 days VMA today. Although the index is sideway, the lower liners were under moderate to heavy selling today. The increase of volume partially caused by heavy selling on KNM and TALAM. KNM alone contributed 151.8 MIL shares exchanged. Thus the volume increased today was not healthy to the market and we view it as bearish market. Further analyse the Property Index, Construction Index, Industrial Index and Technology Index, the candlesticks were closed below the Mid-Band and all other indicators are bearish biased. Hence we suggest you to unload your stocks or reduce the exposure.

Today’s FBMKLCI top 5 gainers components are BAT, BJTOTO, GENTING, DIGI and AXIATA. The top 5 lagging components are CIMB, PBBANK, PLUS, AMMB, and TM.


FBMKLCI Technical Indicators
The INDEX was staying above the Mid-Band with the Bollinger band reduced from 9% to 0%; this indicates FBMKLCI is sideway biased.

RSI decreased slightly to 46.12; this indicates FBMKLCI is sideway biased for short term.

STC %K was hooked down to 88.76 and the %D increased slightly to 78.15. This indicates FBMKLCI is bullish biased but may start to turn down.

The MACD is growing side way but still far away from the trigger line. If it crosses the trigger line, it will be bullish biased. The histogram had formed a rounding bottom; this indicates FBMKLCI may have a chance to rebound.

Summary
Most of the indicators above indicate FBMKLCI is side biased however as stated above, the increased of volumes were caused by heavy to moderate selling pressure on the lower liners. Although the index was moving sideway today, the overall market is bearish biased. The candlestick formed a “Doji Star” at the closing; this means the direction is unclear. The nearest possible resistance levels for FBMKLCI are, 1340.8 1347.6, 1354 and the L1 trend line. The nearest possible support levels are BBMB (1335.8), 1334, the L2 trend line, and 1321. Please refer to the chart below for better understanding.

Counter to Watch:
SUPPORT, TGOFFS









Follow up counters:

Technical Commentary 26/4/10

FBMKLCI was traded sideway today with slightly bullish biased and closed at 1340.07 (+3.29, +0.25%). It just stays above the resistance 1340 today. There are 362 up counters and 306 down counters with the market total traded volume slightly decreased by 2.2% to 7 99.9 MIL shares. The market volume is below 40 days VMA. This means that many investors still caution.

Today’s FBMKLCI top 5 gainers components are AMMB, CIMB, GENTING, PETDAG and TANJONG. The top 5 lagging components are ASTRO, MISC, PPB, MMCCORP, and DIGI.

FBMKLCI Technical Indicators
The INDEX still stays above the mid-band with the Bollinger band expanded 9%, this indicates FBMKLCI still consolidating with slightly bullish biased as this is the 1st time the BB “OPEN” with the candle stays above the BBMB after 12 trading sessions.

RSI decreased slightly at 48.65; this indicates FBMKLCI is sideway biased for short term. However the RSI is a lagging indicator.

STC %K was increased to 90.44 and the %D increased to 69.89. This indicates FBMKLCI is bullish biased.

The MACD is growing side way but still far away from the trigger line. If it crosses the trigger line, it will be bullish biased. The histogram had formed a rounding bottom; this indicates FBMKLCI will have a chance to rebound soon.

Summary
Most of the indicators above indicate FBMKLCI is bullish biased however the trading volume still below 40 days VMA. If the market volumes exceeded 40 days VMA the chances for the index and the market to resume up-trend will be better.

The nearest possible resistance levels for FBMKLCI are 1347.6, 1354 and the L1 trend line. The nearest possible support levels are BBMB (1335), the L2 trend line, and 1321. Please refer to the chart below for better understanding.

Previous Follow Up Counters:








Counter to Watch for 26-Apr-10 (Mon):

D&O, PPHB

Technical Commentary 23/04/10

FBMKLCI was traded sideway again today however the Technology stocks like UNISEM, GTRONIC, DUFU, ENG, D&O and etc continue to keep the Technology sector bullish. FBMKLCI still considered as sideway although it closed negative at 1336.78 (-0.23, -0.02%). The index still stay above the BBMB with a DOJI candlestick, that’s means the direction is undetermined. There are 305 up counters and 352 down counters with the market total traded volume slightly decreased by 1.9% to 818 MIL shares and it slightly below 40 days VMA. This means the investors still caution.

Today’s FBMKLCI top 5 gainers components are MISC, CIMB, HLBANK, AMMB and PLUS. The top 5 lagging components are SIME, GENTING, YTL, YTLPOWR, and BJTOTO.

FBMKLCI Technical Indicators
The INDEX still stays above the mid-band with the Bollinger band unchanged from yesterday (0%); this indicates FBMKLCI still consolidating but new trend could be started soon.

RSI decreased slightly at 50.65; this indicates FBMKLCI is sideway biased for short term.

STC %K was slightly decreased to 67.91 and the %D increased to 61.42. This indicates FBMKLCI still consolidating.

The MACD still heading south but the histogram is started to form a round bottom, this indicates FBMKLCI short-term consolidation but it might rebound soon.

Summary
Most of the indicators above indicate FBMKLCI is consolidation however some indicators like MACD histogram indicate the index might rebound soon. If the market volume can further improve, the chances of rebound will be better. The nearest possible resistance levels for FBMKLCI are 1340, 1347.6 and 1354. The nearest possible support levels are BBMB, 1334, the L2 trend line, and 1318. Please refer to the chart below for better understanding.

Counters to watch on 23-Apr-2010 (FRI):

GTRONIC, KURASIA, TA

Technical Commentary 22/4/10

FBMKLCI was traded sideway today however the overall market was getting slightly bullish toward the afternoon session. FBMKLCI still considered as sideway although it manages to push higher toward the closing at 1337.01 (+3.37, +0.25). Right now the index is stay above the BBMB for the 1st time after 7 sessions. There are 333 up counters and 307 down counters with the market total traded volume slightly decreased by 4.7% to 833.9 MIL shares and slightly below 40 days VMA.

Today’s FBMKLCI top 5 gainers components are GENTING, BAT, MMCCORP, YTL and PLUS. The top 5 lagging components are CIMB, PETGAS, AMMB, TENAGA and HLBANK.

FBMKLCI Technical Indicators
The INDEX finally stays above the mid-band with the Bollinger band further contracted by -27%, this indicates FBMKLCI is consolidating for short-term.

RSI decreased slightly to 55.08; this indicates FBMKLCI is sideway biased for short term.

STC %K was increased to 68.91 and the %D increased to 48.97. This indicates FBMKLCI might have a chance to rebound. However with the Bollinger band still contracting, the upside is limited.

The MACD still heading south but the histogram is started to form a round bottom, this indicates FBMKLCI short-term consolidation but it might rebound soon.

Summary
Most of the indicators above indicate FBMKLCI is consolidation however some indicators like STC and MACD histogram indicate the index might have a chance to rebound soon. If the market volume can further improve, the chances of rebound will be better. The nearest possible resistance levels for FBMKLCI are 1340, 1347.6 and 1354. The nearest possible support levels are BBMB (close to 1334), the L2 trend line, 1318 FIBO and 1292. Please refer to the chart below for better understanding.

22/4/2010 Konsort (6157) - Nearly everyday purchased into Treasury

Counter To Watch- Konsort 6157 Trading & Service
Comment = Nearly everyday purchased into Treasury since Mid March 2010 till now. 1Q2010 Net Profit increased 88.28% (RM10.092M) announced on 21/4
Behaviour = Trending
Tech Aspect = Broke of Sysmetric Triangle and DMI +D crossed -D on 22/4. Possible of +1.60 If price advance together with RSI +70 and volume
Traiing Stop = Below L3, EMA14 or BBM

Technical Commentary 21/4/10

FBMKLCL was bullish biased in the morning and traded as high as 1339.15 (+3.25) however it retreated slowly in the afternoon and pushed down further to closed at 1333.64 (- 2.26, -.17%). The composite index is considered as consolidation today.

There are 399 up counters and 288 down counters with the market total traded volume slightly increased by 9.9% to 875 MIL shares and slightly below 40 days VMA

Today’s FBMKLCI top 5 gainers components are GENTING, BJTOTO, SIME, AXIATA and MISC. The top 5 lagging components are CIMB, MMCCORP, BAT, TENAGA and IOICORP.

FBMKLCI Technical Indicators
The INDEX stays below the mid-band slightly with the Bollinger band contracted by 11%; this indicates FBMKLCI is sideway biased for short term.

RSI decreased slightly at 58.55; this indicates FBMKLCI is sideway biased for short term.

STC %K was sideway at 54.18 and the %D also goes sideway to 37.62. This indicates FBMKLCI is sideway biased for short term.

The MACD still heading south but the histogram seem to form a round bottom, this indicates FBMKLCI short-term consolidation but it might has a chance to rebound soon.

Summary
All the indicators above indicate FBMKLCI is consolidation. The nearest possible resistance levels for FBMKLCI are BBMB which close to 1334, and 1347.6. The nearest possible support levels are 1321, 1318 FIBO and 1292. Please refer to the chart below for better understanding.

Counters to Watch for 21-Apr-2010 (WED):

MULPHAL, TITAN, TWSCORP

Technical Commentary 20-Apr-2010

The regional is rebounding from yesterday drastic dip. Our FBMKLCI opens at 1329.53 (+2.86) with intraday low at 1329.37 (+2.70) and finally advance toward the end of day closing at 1335.90 intraday high. The FBMKLCI ups by +9.23 points and touches the Bollinger middle band on the dot.

There are 456 up counters and 230 down counters with the market total traded volume slightly decreased by -2% to 796.6 MIL shares. The total traded volume is below 40 days VMA; that means most investors are still stayed sideline.

Today’s FBMKLCI top 5 gainers components are TOPGLOV, CIMB, DLADY, SUPERMX, and PANAMY. The top 5 lagging components are BAT, LDAUN, KASSETS, LITRAK, and MILUX.

FBMKLCI Technical Indicators
The INDEX closed slightly above the Bollinger mid-band by 0.5 and the Bollinger band contracted by -3%; this indicates FBMKLCI is still in consolidating for short term.

RSI rebounds from 55 to 61 but still below the threshold 70 level; this indicates FBMKLCI is slightly bullish in the consolidating stage for short term.

STC %K rebounds from 21 to 55 and the %D decreased from 37 to 36. This indicates FBMKLCI is still bearish biased for short term.

The MACD had already crossed the trigger line and the histogram line stop dipping further but level off below ZERO level. This indicates FBMKLCI short-term still in consolidating stage.

The MON still stays below the zero level indicates that the FBMKLCI still bearish biased in short term.

Summary

All indicators above indicate FBMKLCI is still in bearish biased but the only good indication is that the FBMKLCI rebounds to closed 0.5 above the Bollinger Middle Band today. However, with the market volumes traded below 40 days VMA, the short-term view for KLCI is still bearish biased.

Should the FBMKLCI were to be in green tomorrow, the nearest possible resistance levels for FBMKLCI is 1347.6. The nearest possible support levels are 1321(yesterday low), 1318 (Fibo) and 1308-1305 (gap).

Please refer to the chart below for better understanding.

Counters to Watch for 20-Apr-10 (TUES):

BOXPAK, YILAI

Technical Commentary 19/4/10

Due Asian bourses dropped badly from 1% to 4.8% over Goldman fraud case and China economic over heated, FBMKLCI had given up 6.10 points and closed at 1326.27 (-0.46%). It went as low as 1321.25 (-11,52) but it was supported by 1320 and gradually rebounded from there.

There are 134 up counters and 622 down counters with the market total traded volume slightly increased by 3.7% to 812.9 MIL shares. The total traded volume is below 40 days VMA; that’s means investors had started to sideline.

Today’s FBMKLCI top 5 gainers components are PETGAS, ASTRO, SIME, YTL and MISC. The top 5 lagging components are DIGI, TANJONG, BAT, NESTLE and HLBANK.

FBMKLCI Technical Indicators
The INDEX stays below the mid-band with the Bollinger band expanded by 26%; this indicates FBMKLCI is bearish biased for short term.

RSI dipped below the threshold 70 at 55.63; this indicates FBMKLCI is bearish biased for short term.

STC %K decrease below 30 to 20.56 and the %D decreased to 35.52. This indicates FBMKLCI is bearish biased for short term.

The MACD had crosses the trigger line and the histogram continued to dip below ZERO level. This indicates FBMKLCI short-term correction.

Summary
All the indicators above indicate FBMKLCI is bearish now. With the market volumes traded below 40 days VMA, the short-term view for KLCI will be bearish. The nearest possible resistance levels for FBMKLCI are 1334, BBMB and 1347.6. The nearest possible support levels are 1320, 1308 and 1292. Please refer to the chart below for better understanding.

Technical Commentary 16/4/10

Finally FBMKLCI closed below the BBMB and L2 support trend line at 1332.77 (-6.06, -0.45%). The overall market sentiment was bearish biased today even though DJI making another new high. The sellers are taking control today, as there are 201 up counters and 495 down counters with the market total traded volume decreased by 25% to 783 MIL shares. The total traded volume is below 40 days VMA; that’s means investors had reduce their positions and take caution today.

Today’s FBMKLCI top 4 gainers components are DIGI, UMW, NESTLE, and MISC. The top 5 lagging components are AXIATA, AMMB, BAT, YTL and PETDAG.

FBMKLCI Technical Indicators
The INDEX had dropped below the mid-band with the Bollinger band contracted -9%; this indicates FBMKLCI is bearish biased now. Fortunately the Bollinger band had not expand yet, once it expands with the candlestick stays below the BBMB, KLCI will be correct for short term.

RSI dipped below the threshold 70 at 63.72; this indicates FBMKLCI is bearish biased.

STC %K decrease below 30 to 14.42 and the %D decreased to 48.94. This indicates FBMKLCI is bearish now.

The MACD had crosses the trigger line and the histogram continued to dip below ZERO level. This indicates FBMKLCI short-term consolidation or correction.

Summary
FBMKLCI finally dipped below the L2 support trend line and BBMB. With the market volumes traded below 40 days VMA, the short-term view of KLCI will be bearish. The L2 and the BBMB will become the resistance for KLCI now.
The nearest possible resistance levels for FBMKLCI are 1334, L2, BBMB and 1347.6. The nearest possible support levels are 1320, 1308 and 1292. However the mid-term view of FBMKLCI bullish view has not damage yet. Please refer to the charts below for better understanding.

16/4 Ajinomoto 2658 - Advance Further For New High ?

16/4 AJI 2658 ConsumerComment = Mid term price is able to advance further for new high. FY ended 31st March

Behaviour = Low volatility, now trending up

TechAsp = After T+4 price is still able to stay with RSI 79.87, high chance to break uptrend L2 next week

Trailing Stop = Set at 4.72 or below Uptrend Line 1

Bearish view on KLSE

We notice that this few days sellers had take control on the market. Despite DJI up yesterday and today, sellers will sell at the rebound. As you can see, the down counters are more than the up counters, this means sellers are in control. Hence I would like to alert everyone here to be caution now. Try to unload your holding now as many as possible. We need to preserve our capital. Please look at the FBMKLCI chart below for more information.

Cases Study on KNM

KNM (7164) was under selling pressure today after the privatization plan aborted. Please refer to the notes and chart in the picture for more details.

Technical Commentary 15/4/10

Despite DJI up 103 points due to excellent earning result from JP Morgan and Intel, the composite index continue to go sideway and closed at 1338.83 (+2.94, +0.22%).
The overall market sentiment was bearish biased as KNM was under selling pressure due to privatisation failure. The rubber glove stocks were pushed up in the morning however they were under selling pressure in the noon due to some analysts downgrade the rubber stocks from hold to sell. We did not see much rotational play today but many 2nd liners were under correction today. There are 293 up counters and 406 down counters with the market total traded volume increased by 23.6% to 1.04 BIL shares. The total traded volume resume above 1 billion shares and 40 days VMA today.

Today’s FBMKLCI top 5 gainers components are HLBANK, AXIATA, RHBCAP, GENTING and MMCCORP. The top 5 lagging components are TANJONG, UMW, CIMB, SIME and YTLPOWR.


FBMKLCI Technical Indicators
The INDEX still slightly above the mid-band with the Bollinger band contracted another -32%; this indicates FBMKLCI is sideway biased now and will stay consolidation.

RSI goes sideway at 71.65; this indicates FBMKLCI is consolidation.

STC %K decrease slightly to 51.2 and the %D decreased slightly to 62.27. This indicates FBMKLCI is consolidation.

The MACD had crosses the trigger line and the histogram continued to dip below ZERO level. This indicates FBMKLCI short-term consolidation or correction.

Summary
FBMKLCI rebounded slightly at the closing however it is consider as consolidation.
It is slightly above BBMB and L2 support line now. As long as it stays above the BBMB and L2, the outlook of FBMKLCI still bullish biased. However if it falls beyond the BBMB and L2, short-term correction cannot be avoided.

The nearest possible resistance levels for FBMKLCI are 1347.6 and 1354. The nearest possible support levels are BBMB & L2, 1334, 1320, and 1308. Please refer to the chart below for better understanding.

Counters to Watch for 15-Apr-10, Thur:

HAPSENG, TALIWRK, WCT, ZELAN

Technical Commentary 14/4/10

Thanks to better than expected earning result from Intel and positive performance of the regional bourses, FBMKLCI rebounded above the BBMB in the 1st 30 minutes in the morning at the intra-day high of 1341.52 (+7.0). However profit taking started from 9:30am and it started to fall and finally closed positive at 1335.89 (+1.37, +0.1%). FBMKLCI considered as sideway although it manages to close positive. The overall market sentiment was bullish biased as rotational play continues today. There are 375 up counters and 326 down counters with the market total traded volume decreased by 17% to 845 MIL shares. This is the 1st time the volume traded below 1 BIL shares after it had been traded above 1 BIL shares for the last 7th sessions. The volume is below 40 days VMA now, this means that the investors started to sideline.

Today’s FBMKLCI top 5 gainers components are GENTING, TENAGA, RHBCAP, TM and PETDAG. The top 5 lagging components are TANJONG, ASTRO, DIGI, SIME and MISC.

FBMKLCI Technical Indicators
The INDEX still slightly below the mid-band with the Bollinger band contracted another -18%; this indicates FBMKLCI is sideway biased now and will stay consolidation or correction.

RSI hooked down slight to 71.69; this indicates FBMKLCI still in the bullish zone however RSI is the lagging indicator.

STC %K decrease slightly to 58.22 and the %D decreased slightly to 62.79. This indicates FBMKLCI is consolidation.

The MACD had crosses the trigger line and the histogram continued to form a rounding top. This indicates FBMKLCI short-term consolidation and correction.

Summary
FBMKLCI rebounded slightly today thanks to Intel Q1 result better than expected and positive performance of regional bourses. However the index counters still sideway. It is still below the BBMB slightly and short-term view is consolidate and correction.
The nearest possible resistance levels for FBMKLCI are the BBMB about 1337, 1348 and 1354. The nearest possible support levels are BBMB, 1334 (L2), 1320, and 1308. Please refer to the chart below for better understanding.

Technical Commentary 13/4/10

Finally we saw a bearish biased signal today after the benchmark KLCI index had traded above the BBMB for the last 13 sessions. FBMKLCI had broken down the Bollinger mid-band (BBMB) today and closed at 1334.52 (-5.09, -0.38%). However it is just supported by the support level 1334 and the L2 support trend line. If it cannot rebound above the BBMB tomorrow, the outlook of FBMKLCI will be bearish biased. The overall market sentiment was bearish throughout the session although there are still many counters traded positively. There are 238 up counters and 494 down counters with the market total traded volume slightly decreased by 7.1 % to 1.027 BIL shares. This is the 7th session the market is traded above 1 million shares.

Today’s FBMKLCI top 5 gainers components are GENM, MMCCORP, HLBANK, ASTRO and PETGAS. The top 5 lagging components are TENAGA, AXIATA, UMW, YTL and BAT.

FBMKLCI Technical Indicators
The INDEX had closed below the mid-band with the Bollinger band contracted another -11%; this indicates FBMKLCI is bearish biased now and will stay consolidation or correction.

RSI hooked down to 73.12; this indicates FBMKLCI still in the bullish zone however RSI is the lagging indicator.

STC %K had broken below 70 threshold to 57.95 and the %D decreased to 62.38. This indicates FBMKLCI is bearish biased now and possible correction for short-term.

The MACD had crosses the trigger line and the histogram continued to form a rounding top. This indicates FBMKLCI short-term consolidation and correction.

Summary
Today is the correction day for most of the up counters for the last few days. FBMKLCI finally breaks below the Mid-Band today and might turn bearish if it cannot resume above BBMB tomorrow. We expect the market will go either sideway or correction for the next few days unless there is a good news pop up. Nevertheless the stocks prices are getting more expensive now and we advice you to wait for them to cool. There are still many good stocks have not go up and you are advice to analyse them before you buy.

The nearest possible resistance levels for FBMKLCI are 1348 and 1354. The nearest possible support levels are BBMB, 1334, 1320, and 1308. Please refer to the chart below for better understanding.

Counter to Watch 13-Apr:

CSCENIC, EPMB, MFCB, GTRONIC

Technical Commentary 12/4/10

Thanks to DJI closed near 11000 new high, FBMKLCI opened with gap up at 1336.39 (+2.41). It continued to climb as high as 1344.12 (+10.14) however it was resisted by L1 trend line and retreated to close at 1339.61 (+5.63, +0.42%). FBMKLCI still consider as consolidate but TCHONG, UNISEM, WARISON and AJI continued to power the 2nd liners top gainers. MEASAT even shoot up 58 cents to top the overall gainer after having consolidated for 13 days.

The overall market sentiment is bullish biased although it was about 50-50 up and down counters. There are 374 up counters and 367 down counters with the market total traded volume slightly decreased by 11.8 % to 1.1 BIL shares. This is the 6th session the market is traded above 1 million shares. The outlook of KLSE still bullish biased.

Today’s FBMKLCI top 5 gainers components are MISC, TANJONG, PPB, CIMB and PETGAS. The top 5 lagging components are HLBANK, AXIATA, NESTLE, YTL and BAT.

FBMKLCI Technical Indicators
The candlestick still stays above the mid-band with the Bollinger band contracted another -10%; this indicates FBMKLCI still under consolidation stage.

RSI hooked to 82.7; this indicates FBMKLCI is bullish biased.

STC %K had increased to 74.3 and the %D decreased to 72.06. This indicates FBMKLCI is bullish biased.

The MACD went flat and almost touching trigger line. The histogram continues to form a rounding top. This indicates FBMKLCI short-term consolidation.

Summary
Although the composite index counters were under consolidation, the good fundamental lower liners like TCHONG, UNISEM, AJI, APM and etc were continued to push up today. We expect the market will go uptrend some more provided there is no bad news around. Nevertheless the stocks prices are getting more expensive now. We expect rotational play will go on but you are advice to pick only good and under value counters to lower your risk.

The nearest possible resistance levels for FBMKLCI are 1348 (L1) and 1353.8. The nearest possible support levels are BBMB, 1334, 1320, and 1308. Please refer to the chart below for better understanding.

Muda 3883 Industrial - Counter To Watch

12/4 Muda 3883 Industrial
Comment = A Gap Up may prompt a strong price surging up
Behaviour = High Volatility
TechAspect = 12/4 Gap Up with volume. If able to break 1.01 with volume & RSI+70, may move towards next resistance 1.20
Stop Loss = Yesterday's Low

Technical Commentary 09/4/10

After having fell 0.9% yesterday, FBMKLCI rebounded firmly above BBMB 1332 and broke out 1334 today. At the closing, it dropped below 1334 support level due to PPB dropped 36 cents and Petgas dropped 0.22 cents; FBMKLCI closed at 1333.98 (+1.05, +0.08%). There are many 2nd liners buying up strongly and making new high today. Those stocks that making new high include Tchong, Unisem, AJI, Suncity, APM, and GKENT.

The overall market sentiment was turned bullish today as there were 470 up counters and 266 down counters with the market total traded volume slightly decreased by 1.9% to 1.25 BIL shares. This is the 5th session the market is traded above 1 million shares. The outlook of KLSE still bullish biased.

Today’s FBMKLCI top 5 gainers components are MISC, RHBCAP, PLUS, UMW and TM. The top 5 lagging components are PPB, PETGAS, PETDAG, ASTRO and AMMB.

FBMKLCI Technical Indicators
The candlestick still stays above the mid-band with the Bollinger band contracted another -10%; this indicates FBMKLCI is under consolidation stage. The BBMB temporary provides support to FBMKLCI for now.

RSI hooked to 77.65; this indicates FBMKLCI still bullish biased.

STC %K slightly increased to 60.49 and the %D decreased to 77.68. This indicates FBMKLCI was under consolidation stage.

The MACD hooked down and almost touching trigger line. The histogram continues to form a rounding top. This indicates FBMKLCI short-term correction or consolidation.

Summary
FBMKLCI manages to support above the BBMB at 1332.6. Although the composite index counters were under consolidation, the good fundamental lower liners like TCHONG, GKENT, SUNCITY, APM and etc were actively pushed up today.
We expect the market will go uptrend some more provided there is no bad news around. Nevertheless the stocks prices are getting more expensive now. We expect rotational play will go on but you are advice to pick only good and under value counters to lower your risk.

The nearest possible resistance levels for FBMKLCI are 1334, 1348 (L1) and 1353.8. The nearest possible support levels are 1332.6 (BBMB), 1320, and 1308. Please refer to the chart below for better understanding.