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Monday August term insurance uae 4, 2008
Immediate-term trend long term disability how it works steady
Signs imply the continuation of upward wave
Stock Market Signals: A weekly column on the Main Board of the MSEB by G.M. Teoh
THE Kuala Lumpur Composite Index (KLCI) expanded on its technical recovery last week and edged higher auditory processing and short term memory in light trading to close the week with moderate gains.
Overall trading remained lacklustre as traders remained non-committal amid political bickering and preferred to maintain their wait-and-see attitude.
News that Bank Negara revoked its approval for Maybank�s purchase of PT Bank International Indonesia (BII) and recovery in US markets following lower crude oil prices provided some underlying buying support.
Talk that local retail fuel prices would be adjusted lower if crude oil prices remain below US$125 a barrel encouraged some speculative bargain-hunting buying in some of the blue chip stocks.
The KLCI edged higher from an intra-week�s low of 1,141.85 points to a weekly high of 1,164.64 points and ended moderately higher at 1,159.10 points, up 17.35 points or 1.52% previously.
Most of the main index linked stocks ended in the positive territory.
Maybank, Tenaga Nasional, IOI Corporation, Commerce, Genting, TM International, Petronas Gas and Dig.Com finished with minor gains and supported the index by a combined 15.75 points.
Sime Darby, Public Bank and MISC settled in the negative territory and took away a combined 3.96 points from the KLCI.
The total weekly volume declined sharply lower to ct term emulator 811.07 million shares from 1.025 billion shares a week ago.
Daily average volume for the week dropped to 162.21 million shares from 205.19 million shares previously.
The daily candlestick chart ended the week neutral to slightly positive and indicated that the immediate-term trend would continue to remain steady. The weekly candlestick chart ended positive with the formation of a rising window that usually implies a continuation of an upward wave.
The two-week-old technical long term acute care nj rebound had enabled the index to recover 75 points from its aetna long term care insurance sell-off decline low of 1,089 points. The big question facing traders now is at what a1 term papers point would this recovery end.
Technically, the bear market started in mid-January 2008 use of the term raffle where the index peaked at 1,524 examples of short term goals points. We are still in a bearish trend and all rebound action would have to fizzle out sooner or later in a major bear market as players are waiting for opportunities to sell earlier bad buying positions. Over the last seven months, there were seven minor technical rebound attempts that ended as fast as they started.
Resistance for the immediate term now stands at 1,160-1,170 points and for the cause long term hack dry cough recovery rally process to sustain, the index would have to penetrate and late term abortion case hold successfully above this level. Failure to dexamethasone long term use do so would result in pdx long term parking another round of liquidation selling.
Support for the coming sessions is seen around 1,145.0-1,130.0 points. The overall chart outlook would turn bearish if this level were to be breached.
The daily technical indicators ended the week neutral to slightly negative and showed that the index is slightly top what is term insurance heavy after two weeks of upward technical correction.
The daily geological term stochastic triggered the sell signal on July 28 and remained architectural term cd and dd negative on Friday�s close to show that the market is technically overdone.
The oscillators vig gambling term per cent K and D ended the week lower at 88.35% and 88.94% respectively.
The daily Money Flow Index (MFI) dropped from a weekly high of 85.33 points on July 28th and ended slightly higher at 68.09 points. Analysis of the daily MFI indicated that light distribution occurred last week.
The main trend tracker, the 3- and 7-week medical term for headahce exponentially smoothed moving average price lines held on to its two-week-old sell signal and finished the week in bearish divergence.
Presently, the weekly ESA lines are indicating that the main trend is still bearish cycle. The 5-day RSI fell from a weekly high of 77.87 points and ended the week slightly higher at 68.41 points. Currently, the RSI is indicating that the index�s immediate underlying strength is neutral to slightly negative.
For latest MSEB indices, charts and other information click here
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