7 Aug 2014

Bursa Malaysia : KLCI Technical Outlook 07 Aug

Market Review for KLCI:
Share prices opened flat on Thursday with the KLCI up 0.78 points to 1870.04. Asian stocks declined Thursday with China leading the region lower, while the Australian dollar fell sharply after worse-than-expected employment data. This impacted KLCI too. The close for the day was observed at 1867.32. The prices are below 20 and 50 days EMA.
KLCI Day Performance
Open
1870.04
High
1871.26
Low
1864.72
Close
1867.32
Change(Points)
-2.60
% Change
-0.14%
Volume
1799.7M
Rise
173
Fall
246
Unch
690
Market forecast for KLCI:
We may expect the prices to increase if the support near the level of 1860 found to be strong enough.
KLCI LEVELS
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
1860
1850
1845
1875
1880
1885
Technical indicators:RSI is below the centre line at 42.19 and CCI is at -90.31.
Top Gainers
Top Losers
Scrip Name
CMP
%change
Scrip Name
CMP
%change
KLCC
6.48
1.57
TENAGA
12.1
-1.63
GENM
4.33
1.17
HLFG
17.26
-1.37
BAT
69.8
0.84
CIMB
6.9
-1
YTL
1.61
0.63
SKPETRO
4.27
-0.93
KLK
23.86
0.59
RHBCAP
8.98
-0.55
Economic Factors:
  • KLCI remained in negative territory at the midday break in line with the retreat at regional markets.
  • Asian shares retreated while investors flocked to safe heaven assets such as bonds and gold, spooked by a Russian troop build-up on the border with Ukraine and tit-for –tat economic sanctions between the west and Moscow.
  • KNM Group Bhd rose as much as 10 sen or about 10% to RM 1.14, before paring gains after the process equipment manufacturer.

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