Malaysia KLSE Review: KLCI Technical Analysis 19th Jan

The FBM KLCI index gained 9.74 points or 0.56% on Monday. Finance Index increased 1.05% to 15527.53 points, the Properties Index up 0.85% to 1297.22 points and the Plantation Index rose 0.10% to 7783.63 points. market traded within a range of 9.62 points between an intra-day high of 1755.12 and a low of 1745.50 during the session.

KLCI ended higher at 1753.31 points, buoyed by a rise in crude oil prices. The gains on Wall Street last Friday also helped supporting market sentiment after U.S. consumer sentiment surged to 11-year high.

FBMKLCI Day Performance

Open-1745.50

High-1755.12

Low-1745.50

Close-1753.31

Change(Points)-9.74

% Change-0.56%

Volume-1849.7M

Rise-486

Fall-324

Unch-1824

Market forecast for KLCI: Market is still in a side way movement, though it is anticipated that market will move upside in this week as technically there is a resistance at 1750.

Technical indicators: RSI stood below the center line at 52.499 with its CCI at 55.389. Difference line of MACD performed at -4.224 above its signal line which performed at -7.999.

KLCI LEVELS

Support 1- 1725

Support 2- 1706

Support 3- 1670

Resistance 1- 1758

Resistance 2- 1770

Resistance 3- 1789

ECONOMIC FACTORS:

• Hong Leong Investment (HLIB) Bank expects AirAsia Group to register stronger earnings in 2015, given the significant benefits from lower jet fuel price.
• Property developer, GuocoLand (M) Bhd, is bullish its flagship project, Damansara City, will be launched by the first quarter of this year.
• SapuraKencana Petroleum Bhd’s shares rose this morning after the group announced it was rejoining the Security Commission (SC)’s syariah list with a US$2.3 billion Islamic loan.
• Genting Bhd today announced that DNA Electronics Limited (DNAe), its indirect 82.1 per cent-owned subsidiary, has completed the acquisition of the entire issued share capital of NanoMR, Inc (NanoMR) for a total cash consideration of about US$24.0 million (US$1= RM3.57).
• Malaysia's annual inflation rate is expected to have eased slightly in December, a Reuters poll showed, as falling fuel prices offset the effects of higher food costs from severe floods.