Technical View On The KLCI As At Oct 24 2017

The recent sell down of the KLCI component stocks since mid September has some damage to the technical chart of KLCI. Let's take a look:

Daily Chart

Chart Pattern
There was a violation of the 6 month Double Top chart pattern at 1750 on 17/10/2017. Currently, we are waiting for a confirmation which is a retracement below 1750 level.

Trend Line
It has also violated the one year trend line at 1768 on 28/9/2017.

Moving Averages
At 1736, it is currently below the 20day, 50day, 100day and the 200 day MAs. 

GMMA
The red GMMA lines have crossed below the green lines. The red lines are facing down while the green lines are horizontal indicating short term speculators are selling while the long term investors are still holding.

The violation of the double top if confirmed the next target would be 1710.

The Monthly Chart

In terms of the monthly chart, we can see the long term bullish trend is still intact. Hence, it would be crucial for the KLCI to hold at above 1730 for now.

Technical Indicators as at Oct 24 2017

As at 24/10/2017 

Sector	20 Day MA	50 Day MA	100 Day MA	200 Day MA
Construction	Below	Below	Below	Below
Consumer	Above	Above	Above	Above
Finance	Below	Below	Below	Above
Ind-Product	Above	Above	Above	Above
Industrial	Above	Below	Below	Below
Mining	Below	Above	Above	Above
Plantation	Below	Above	Above	Below
Properties	Below	Below	Below	Below
Technology	Above	Above	Above	Above
Trading/ Services	Below	Below	Below	Below

Technical Indicator:

20 Day MA: Short term<1month br="" nbsp="">

50Day MA: Medium Term 1-3months

100Day MA: Medium Term 3-6months

200Day MA: Long Term > 6months

Bearish Sectors Are:

Construction, Finance, Industrial, Properties, Trading/Services

Bullish Sectors Are: 

Consumer, Industrial Products, Mining, Technology

Technical Indicators For KLCI as at 05/09/2017

As at 5/9/2017 

Sector	20 Day MA	50 Day MA	100 Day MA	200 Day MA
Construction	Below	Below	Below	Above
Consumer	Below	Below	Below	Above
Finance	Below	Below	Above	Above
Ind-Product	Above	Above	Above	Above
Industrial	Below	Below	Below	Below
Mining	Above	Above	Above	Above
Plantation	Above	Below	Below	Below
Properties	Below	Below	Below	Above
Technology	Above	Above	Above	Above
Trading/ Services	Above	Above	Below	Above

Technical Indicator:

20 Day MA: Short term<1month br="" nbsp="">

50Day MA: Medium Term 1-3months

100Day MA: Medium Term 3-6months

200Day MA: Long Term > 6months

Sectors that have improved are (have turned above the indicators since last month):
1. Plantation:                 Above 20 Day
2. Trading/Services:     Above 50 Day MA

Sector/s that has/have deteriorated (have turned below the indicators since last month):

1. Construction: Below 100 Day MA
2.  Consumer: Below 20 Day, 50 Day & 100 Day MA3. Finance: Below 20 Day, 50 Day4. Industrial: Below 100 Day, 200 Day MA

Technical Indicators For KLCI as at 4/8/2017

As at 4/8/2017 

Sector	20 Day MA	50 Day MA	100 Day MA	200 Day MA
Construction	Below	Below	Above	Above
Consumer	Above	Above	Above	Above
Finance	Above	Above	Above	Above
Ind-Product	Above	Above	Above	Above
Industrial	Below	Below	Above	Above
Mining	Above	Above	Above	Above
Plantation	Below	Below	Below	Below
Properties	Below	Below	Below	Above
Technology	Above	Above	Above	Above
Trading/ Services	Above	Below	Below	Above

Technical Indicator:

20 Day MA: Short term<1month div="">

50Day MA: Medium Term 1-3months

100Day MA: Medium Term 3-6months

200Day MA: Long Term > 6months

Sectors that have improved are:
1. Consumer:                 KLCI  above 20 Day and 50 Day MA
2. Finance:                     KLCI above 20 Day MA
3. Industrial Products: KLCI above 20Day and 50Day MA
4. Industrial:                 KLCI above 100 Day MA
5. Trading/Services:     KLCI above 20 Day MA

Sector/s that has/have deteriorated:
1. Properties: KLCI below 100 Day MA

Technical Indicators For The Bursa Malaysia Sectors

As at 7/7/2017 

Sector	20 Day MA	50 Day MA	100 Day MA	200 Day MA
Construction	Below	Below	Above	Above
Consumer	Below	Below	Above	Above
Finance	Below	Above	Above	Above
Ind-Product	Below	Below	Above	Above
Industrial	Below	Below	Below	Above
Mining	Above	Above	Above	Above
Plantation	Below	Below	Below	Below
Properties	Below	Below	Above	Above
Technology	Above	Above	Above	Above
Trading/ Services	Below	Below	Below	Above

Technical Indicator:

20 Day MA: Short term <1month div="">

50Day MA: Medium Term 1-3months

100Day MA: Medium Term 3-6months

200Day MA: Long Term > 6months