Bursa Malaysia : KLCI Technical Analysis Outlook 11th Dec

Market Review for KLCI:
The FBM KLCI lost 20.95 points or 1.19% on Thursday. Finance Index fell 0.78% to 15494.4 points, Properties Index dropped 1.48% to 1298.63 points and Plantation Index down 1.70% to 7815.21 points. Market traded within a range of 14.84 points between an intra-day high of 1757.19 and a low of 1742.35 during the session.

The KLCI closed lower at 1744.57 points after the surge on yesterday, as investors were taking profit. The lacklustre performance of our local bourse was in line with Asian and U.S. markets, following price of crude fell to a new five-year low and the Organization of Petroleum Exporting Countries cut its demand outlook for next year. Meanwhile, E.A. Technique made an unimpressive debut on Bursa Malaysia by losing 25.38% at the closing bell.

KLCI Day Performance
Open	1748.17	% Change	-1.19%
High	1757.19	Volume	1226.9M
Low	1742.35	Rise	178
Close	1744.57	Fall	626
Change(Points)	-20.95	Unch	1769

Market forecast for KLCI:
Asian stock markets were back in the red on news that oil prices are expected to decline further. The price of the commodity would slump to US$50 per barrel over the next few months and this dragged down the global markets.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1740	1720	1700	1790	1805	1822

Technical indicators:RSI stood below the center line at 35.253 with its CCI at -94.347. Difference line of MACD performed at -21.317 below its signal line which performed at -15.547.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
MISC	7.23	2.99	PETDAG	16.7	-5.76
AXIATA	6.98	0.87	UEMS	1.52	-4.4
ASTRO	3.33	0.3	FGV	2.75	-3.85
RHBCAP	7.59	-0.13	PCHEM	5.07	-3.43
UMW	10.8	-0.18	MAXIS	6.65	-3.34

Economic Factors:

• Malaysia continues to be a key growth market for 3M, in line with the country’s position as an advanced developing nation and one of Asean’s leading economies.
• Eco World Development Group Bhd is one of the top picks in the property sector, scoring with RM3.2 billion sales.
• Malaysia’s Industrial Production Index (IPI) increased 5.0 per cent in October 2014 compared with the same month in the previous year.
• Total approved manufacturing investments in the third quarter slowed to 27.5 per cent, year-on-year, (y-o-y) to RM16.1 billion, after growing at a sharp pace of 182.1 per cent to RM30.3 billion in the second quarter.