Bursa Malaysia: KLCI Technical Analysis 30 Oct

Market Review for KLCI:
The FBM KLCI index gained 3.23 points or 0.18% on Thursday. Finance Index increased 0.20% to 16791.27 points, Properties Index up 0.66% to 1449.51 points and Plantation Index rose 0.58% to 8515.07 points. Market traded within a range of 5.85 points between an intra-day high of 1843.89 and a low of 1838.04 during the session.

The day ended with the KLCI closing higher at 1842.78 points. Meanwhile, regional investor sentiment was lifted following the declaration from Federal Reserve to maintain low interest rates, amid concerns over slowdown economic growth in Euro zone.

KLCI Day Performance
Open	1839.31
High	1843.89
Low	1838.04
Close	1842.78
Change(Points)	3.23
% Change	0.18%
Volume	1876.3M
Rise	509
Fall	339
Unch	832

Market forecast for KLCI:
Market is anticipated to be remain in buying teritorry following the uptrend.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1825	1813	1796	1853	1871	1890

Technical indicators:RSI stood below the center line at 93.97 with its CCI at 58.528. Difference line of MACD performed at -3.710 below its signal line which performed at -10.143.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
FGV	3.67	2.8	ASTRO	3.27	-2.1
UEMS	1.84	2.22	KLK	22.98	-1.96
TM	7.2	2.13	GENM	4.19	-1.18
PPB	15.62	2.09	RHBCAP	8.77	-0.9
GENTING	9.66	1.15	YTL	1.65	-0.6

Economic Factors:

• Timber and precast concrete company Leweko Resources Bhd proposes to diversify into property development via a joint venture with Kampung Kenayat Sdn Bhd to develop a RM350 million gross development value leasehold mixed development in Kinta,
• IOI Corp Bhd, which foresees crude palm oil (CPO) prices improving following the announcement of the nationwide implementation of the B7 biodiesel, expects CPO prices to hover in at RM2,300 to RM2,600 per tonne by the first half of 2015.
• Hong Leong Investment Bank (HLIB) Research opined that the planned B7 Biodiesel programme is not expected to boost crude palm oil (CPO) price significantly mainly due to CPO's narrow discount against soy oil and the economic viability of voluntary biodiesel demand given the current low crude oil price.
• Plenitude Bhd did not raise dividend payments for its financial year ended June 30, 2014 (FY14) despite achieving higher net profit as part of a "prudent" decision to strengthen its cash position in the midst of a softening market, said its executive chairman Chua Elsie.
• Protasco Bhd saw its share price drop 4.38% following a counter-suit filed by substantial shareholder Tey Por Yee against the company's senior management.