Malaysia: Bursa Malaysia Bhd (BMYS:KL) close lower on Monday

Malaysia: Bursa Malaysia Bhd (BMYS:KL) close lower on Monday

Malaysia: Bursa Malaysia Bhd (BMYS:KL) close lower on Monday

MALAYSIAN share prices closed lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 18.35 points at 1,743.43 points.

Volume was 1.90 billion lots worth RM2.03 billion.

Losers outnumbered gainers 583 to 304.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 8.33.

The projected lower bound is: 7.30.

The projected closing price is: 7.81.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 13 white candles and 36 black candles for a net of 23 black candles.

A bearish harami occurred (where the current small black body is contained within an unusually large white body). During an uptrend this pattern implies an end to the rally as the bulls appear to have exhausted themselves.

During a downtrend (which appears to be the case with BURSA MALAYSIA) the bearish harami pattern is bullish as the bulls appear to be gaining strength as the bears weaken.

An inverted hammer occurred. If this occurs during a downtrend (which appears to be the case with BURSA MALAYSIA) it implies a reversal. Look for a confirmation of the reversal on the bar.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A shooting star occurred (a shooting star has a small real body near the bottom of the candle and a long upper shadow). During an uptrend(which appears to be the case with BURSA MALAYSIA) the long upper shadow indicates that the bears are gaining control and a top may occur.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 25.9260. This is not an overbought or oversold reading. The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.83. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 18 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 12. This is not a topping or bottoming area. The last signal was a sell 18 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.

Rex Takasugi – TD Profile

BURSA MALAYSIA closed down -0.140 at 7.800. Volume was 43% below average (neutral) and Bollinger Bands were 5% narrower than normal.

Open High Low Close Volume___
7.820 7.920 7.800 7.800 841,400

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 7.87 7.55 7.05
Volatility: 18 43 27
Volume: 2,478,080 1,572,149 1,409,095

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BURSA MALAYSIA is currently 10.6% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of BMYS.KL (mildly bearish). Our trend forecasting oscillators are currently bullish on BMYS.KL and have had this outlook for the last 23 periods.

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