KLSE CHART ANALYSIS FBMKLCI 12 September 2012

Global Asia went up but why KLSE is the only country which lags behind




Let deep dive into the FBMKCLI 30 companies ( More than 50% counter are up but why KLSE is red)

17 Counters Green
11 Counters  Red
2   Counters Unchanged

 

Snapshot from Shareinvestor

Main impact was from Airasia counter where it drop 5% in one day.. The reason why it is because investors are worried that Malindo Airways which launch today will compete with Airasia who own 60% of the domestic flights. Good news for the Citizen but not for the investors. More detail click here.




Let check on the Technical Analysis today

Indicators
1 ) Trendline - Broke the uptrend line (Bearish) - Requires to break above 1637 to maintain bullish
2)  Support/Resistance - Formed Higher high (Bullish) but formed Lower Low ( Bearish)
3) MACD - Bearish and let waits for 4R1G to bullish reversal
4) RSI - At oversold ( Bearish ) if break this level will confirm   Bullish
5) STO - Bullish Crossover and broke above 20% ( Bullish)
6) Ichimoku -  a) Price penetrating in the support cloud (Bearish). Let wait for it to come out from the cloud
                       b) Conversion line retrace and kissing the base line (Bearish). Waiting for rebound
                       c) Price below the baseline ( Bearish)
7) Candlestick pattern - Continuation pattern after Hammer support was weak which ended with a spinning top. Need to wait for another to determine whether bullish attack or bearish attack.
If White Candle - Bullish Attack
If  Black Candle - Continue to bear and formed new lower low


Conclusion:
Bearish

Resistance- 1624/  1637 ( Trendline Support on 10 Sept) / 1645 / 1656
Support -  1609/ 1592 / 1582