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Daily KLCI Technical analysis Report 23 July

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Publish date: Wed, 23 Jul 2014, 07:52 PM
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Market Review for KLCI:
Malaysian stocks opened on a mixed note or can say slightly higher on getting a buying momentum with KLCI at 1870.41and closed higher today helped by the continued buying support in selected heavyweights. Most Asian stock markets were higher today as anxiety over the downing of Malaysia Airlines MH17 flight eased and investors shifted their focus to the US corporate earnings.
KLCI Day Performance
Open
1870.41
High
1873.70
Low
1869.39
Close
1871.83
Change(Points)
0.470
% Change
0.02%
Volume
2329.1M
Rise
468
Fall
393
Unch
794
Market forecast for KLCI:
Market may begin from 1870-1873 level anticipated to move up on eased tensions over the downing of Malaysia Airlines MH17 flight.

KLCI LEVELS
Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
1860 1850 1835 1879 1896 1911
Technical indicators:
RSI stood below the centre line at 41.472 with its CCI at -146.35. Difference line of MACD performed at -1.463 below its signal line which performed at 1.147.

Top Gainers
Top Losers
Scrip Name CMP %change Scrip Name CMP %change
FGV 4.11 2.49 ASTRO 3.29 -2.66
MISC 6.63 1.69 PPB 14.18 -1.53
HLFG 17.5 1.51 PETDAG 19.34 -1.33
YTL 1.57 1.29 RHBCAP 9 -1.1
UMW 11.62 0.87 KLCC 6.36 -1.09
ECONOMIC FACTORS:
  • The Malaysian Automotive Association (MAA) revised upwards its total industry volume (TIV) forecast for this year to 680,000 units from the earlier target of 670,000 units.
  • The ringgit opened marginally higher against the US dollar quoting at 3.1735/1755 on renewed commercial demand for the domestic currency.
  • The Malaysian rubber market closed marginally lowers yesterday on stronger ringgit despite the rise on the benchmark Tokyo Commodity Exchange.
  • Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on weak demand amid bearish external sentiment.
  • The Malaysian Institute of Economic Research (MIER) does not expect Bank Negara Malaysia to step up borrowing costs in the immediate term.
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