Singapore Stock Exchange

Malaysia : KLCI Technical Analysis 21 Aug

Alex Gray
Publish date: Thu, 21 Aug 2014, 07:14 PM
Alex Gray
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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
1874.35
High
1878.89
Low
1872.59
Close
1878.89
Change(Points)
6.730
% Change
0.36%
Volume
7669.9M
Rise
227
Fall
758
Unch
1328
Market forecast for KLCI:
Market was in corrective session today and it formed Bearish Harami chandle stick pattern which signifies that the prices gapped lower and closed lower than the previous day. Therefore, the harami pattern suggests that prices could go downward or sideways in the short term because the bullish upward pressure has diminished.
KLCI LEVELS
Support 1
 Support 2
 Support 3
 Resistance 1
 Resistance 2
 Resistance 3
1868
 1857
 1833
 1890
 1892
 1907
Technical indicators:RSI stood below the centre line at 53.467 with its CCI at 66.618. Difference line of MACD performed at -1.932 above its signal line which performed at -4.091.
Top Gainers
Top Losers
Scrip Name
 CMP
 %change
 Scrip Name
 CMP
 %change
IOICORP
 4.83
 -3.4
 HLFG
 17.6
 2.44
KLK
 23.16
 -2.93
 SKPETRO
 4.19
 1.45
YTL
 1.55
 -1.9
 IHH
 5.02
 1.41
GENTING
 9.68
 -1.43
 ASTRO
 3.35
 1.21
UEMS.KL
 1.97
 -1.01
 CIMB
 7.12
 0.71
Economic Factors:
  • The ringgit opened lower against the US dollar today due to lack of demand.
  • Malaysia's ringgit dropped for a second day as a signal from the Federal Reserve that it's on target to increase interest rates next year boosted demand for the dollar.
  • The Asean Economic Community (AEC), the single market which takes shape next year, promises benefits to the people and businesses. 2015 onwards, Customs duties on 97.3% of the goods traded in the region will be duty-free.
  • Automotive sector is expected to pick up speed for the period, driven by major launches, which would spur buying interest and perform in the H2 of this year.
  • Perdana Petroleum's first half financial year 2014 result has met 38 per cent and 50 per cent of our revenue and earnings estimates, respectively. Second quarter finan-cial year 2014 revenue registered RM88.6 million, while earnings is on track with RM24 million. Its performance is reaffirmed by its earnings visibility from its RM1.3 billion order book of longer term contracts up to 2019.
  • Airasia Bhd's earnings surged more than fivefold to RM367.1 million in the Q2 ended June 30, from RM58.3 million recorded in the same period last year. This was achieved on the back of a higher revenue of RM1.3 billion, up 5.1%from the RM1.2 billion recorded a year ago, mainly driven by 1% growth in passenger volume and lower average fare.
  • IOI Corp Bhd's net profit surged 70% to RM3.3 billion in the financial year ended June 30 from RM1.9 billion in the previous financial year, backed by the RM1.8 billion gain from the demerger of the group's property business.
  • Boustead Plantations Bhd (BPB) chalked up a net profit of RM9.4 million in the Q2 ended June 30 after registering losses of RM10.4 million in the same period last year. This was on the back of a higher revenue of RM188.7 million, up 24.4 per cent, compared with RM151.7 million for the same period.
  • The major shareholder of Brahim's Holdings Bhd said he may consider selling the company's stake in in-flight caterer Brahim's Airline Catering (BAC) Sdn Bhd should there be a request from Malaysia Airlines (MAS).
  • The Malaysian Association of Tour and Travel Agents (MATTA) expects to rake in RM150 million in revenue from its travel fair next month as more people are ready to travel in the second half of the year.
  • Pharmaniaga Bhd chalked up a pre-tax profit of RM24.62 million for the second quarter (Q2) ended June 30, 2014, up from RM9.61 million in the same quarter last year.
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