KLCI Technical Analysis Outlook 22 Sept

Market Review for KLCI:
Share prices on Bursa Malaysia were higher in the early session of opening at 1,851.65 on fresh buying support and bolstered by gains in blue-chips. Bursa Malaysia finished lower today in tandem with regional bourses with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) 3.44 points easier.

KLCI Day Performance
Open	1851.65
High	1851.91
Low	1843.85
Close	1846.05
Change(Points)	-3.44
% Change	-0.19%
Volume	2592M
Rise	384
Fall	444
Unch	1524

Market forecast for KLCI:
Market may rebound as trend is still down and selling pressure seems to be higher

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1836	1820	1806	1854	1878	1895

Technical indicators:RSI stood below the centre line at 37.472 with its CCI at -117.485. Difference line of MACD performed at -5.827 above its signal line which performed at -3.521.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
IOICORP	4.9	1.45	PPB	14.08	-2.22
MAXIS	6.26	0.81	IHH	5	-1.96
BAT	70.6	0.51	HLFG	17.7	-1.67
GENM	4.19	0.48	RHBCAP	8.95	-1.65
PBBANK	19.12	0.42	TENAGA	12.2	-1.45

Economic Factors:

• Malaysia has revised upwards its forecast for this year’s growth to between 5.5 and 6.0%, following impressive growth in the H1 of the year.
• The ringgit opened higher today on buying demand for the local unit.
• Sunway Bhd shares appreciated 2.67% or 9.0 sen, in early trading session, as the market responded positively to the announcement that the company’s construction arm, Sunway Construction Group Bhd, will be listed soon.
• Malaysian Communications and Multimedia Commission (MCMC) is confident of achieving its target of RM600 million in content exports by year-end.
• Bursa Malaysia is expected to gain momentum this week, driven by select blue chips as investor sentiment edged up after Bank Negara Malaysia maintained the Overnight Policy Rate at 3.25 per cent.