The market’s volume was decreased by 13.6%, traded with 936 MIL shares. The volume now is just touching the 40 days VMA. In order for the market and KLCI30 to rebound further, the trading volume must stay above 40 days VMA. There are 534 up counters and 190 down counters. If KLCI were to rebound in the next few days, it has to break above today’s high 1268 and 1272. Otherwise a lower high will be formed. We still have not see a lower low unless it further breaks down 1255, the critical support level.
FBMKLCI Indicators
Bollinger band expanded another 26% with the candlestick stay below BBMB, indicates KLCI30 is bearish.
RSI flats at 31.3, indicates KLCI30 is still bearish.
STC %K dipped below 10 @6.02 and %D below 20 @14.91, indicates KLCI30 short term is bearish and near to oversold. There will be a technical rebound soon.
The MACD line hooked down further and the histogram still not form a rounding bottom. This indicates KLCI 30 still bearish biased. If the histogram started to form a rounding bottom, KLCI30 will has a chance to rebound.
All the indicators above are bearish biased for FBMKLCI. Please refer to the picture of FBMKLCI for your reference.
For case study only
Break out and almost breakout counters
