Bursa Malaysia : KLCI Technical Analysis Review 24th Nov

Market Review for KLCI:
The FBM KLCI index gained 24.64 points or 1.36% on Monday. Finance Index increased 0.58% to 16286.49 points, Properties Index up 0.99% to 1408.28 points and Plantation Index rose 1.67% to 8332.58 points. Market traded within a range of 24.14 points between an intra-day high of 1833.77 and a low of 1809.63 during the session.

KLCI started the week on a positive note, closing higher at 1833.77 points after Malaysia's government decision to practice the managed float system to set its fuel prices. Trading sentiment was supported by the decision of China's central bank to cut its interest rate for the first time since July 2012 following the announcement by European Central Bank about its bond-buying program and Malaysia.

KLCI Day Performance
Open	1811.45	% Change	1.36%
High	1833.77	Volume	2241.9M
Low	1809.63	Rise	510
Close	1833.77	Fall	297
Change(Points)	24.64	Unch	1726

Market forecast for KLCI:
The full trading session of KLCI was remain in green territory so it might noted that market may good tomorrow.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1824	1805	1791	1836	1852	1867

Technical indicators:RSI stood below the center line at 54.389 with its CCI at -15.827. Difference line of MACD performed at -2.204 below its signal line which performed at -2.454.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
AXIATA	7.19	0.28	TENAGA	14.46	6.94
BAT	67.8	0.36	SKPETRO	3.24	5.56
CIMB	5.84	0.57	SIME	9.71	4.18
DIGI	6.19	0.61	RHBCAP	8.24	3.73
FGV	3.42	0.62	PPB	15.6	2.79

Economic Factors:

• The removal of subsidies for RON95 petrol and diesel will not have any inflationary consequences to the country's economy as global crude oil prices are softening.
• Axiata Group Bhd recorded a lower pre-tax profit of RM747.19 million for the third quarter (Q3) ended September 30, 2014, compared with RM918.06 million in the same quarter last year. Revenue fell to RM4.65 billion from RM4.75 billion previously.
• The fuel subsidy removal by the government is a positive move and will not have a significant impact on the economy.
• IOI Corporation Bhd's shares on Bursa Malaysia gained seven sen to RM4.67 as at 10.15 am today, lifted by the company's positive earnings outlook.
• The government will intervene if global crude oil prices rise too high to cushion the impact on RON95 petrol and diesel.
• The ringgit gained the most in two weeks on optimism Malaysia’s plan to abolish energy subsidies will help shore up public finances.
• Mechanical engineering solution provider Frontken Corporation Bhd sees its net profit tripled year-on-year to RM5.26 million in 3Q financial year ending on Dec 31, 2014 (3QFY14) from RM1.57 million.
• 7-Eleven Malaysia Holdings Bhd saw third quarter (Q3) net profit more than double helped by sales growth, gross profit margin expansion, growth in other operating income and lower administrative and other operating expenses. The net profit grow to RM17.13 million for the quarter ended Sept 30, 2014, compared with RM8.19 million for the same quarter in 2013.