FBM KLCI Generated Buy Signal at 1745 – Raviraj
The Index rose to current levels after the US increased its benchmark interest rate by 25 basis point last Wednesday to between 0.75% to 1%
The daily Volume touched a turnover of 4.982 Billion on Friday 17th since August 20, 2014 when it did 7.670 Billion.
Meanwhile the trailing 60 Days Average volume was 1.683 Billion.
As per the chart, FBM KLCI Gapped Up. Possibility of a Runaway Gap which usually signifies a Continuation of the Trend. In this instance, Continuation of Uptrend.
Trend forecasting Occillators are currently in Bullish Mode.
Current Outlook of the market…
Short Term: BULLISH
Long Term: *BULLISH
The Projected Upper Bound of the Index is 1770, while the Projected Lower Bound is 1724.
The Index will test 1896 in the coming weeks.
Counters that currently shows Breakout Signals based on Friday’s counter’s volume and Technical Analysis are:
*Index projections are for reference only and can be exceeded by the market.