FBMKLCI opens with gap down at 1319.60 (-1.83) and the gap was filled in 5 mins. It was then started to drop after it has reach the intraday high of 1321.89 (+0.46) at 9.10am. After that, FBMKLCI suffers a heavy profit taking right after 9.10am until 11am. It was then started to go sideway until the closing. The intraday low was at 1308.79 around 11:10am and finally closed at 1311.20 (-10.23, -0.77%). FBMKLCL was corrected 23 points for 2 days. There are 247 up counters and 436 down counters with the market total traded volume decreased by -9.6% to 716 mil shares which is below the 40 days VMA of 961mil.
Today’s FBMKLCI only has 4 leading components, they are PPB, YTL, TENAGA, and AXIATA, while the top 5 lagging components are SIME, MAYBANK, KLK, GENTING, and CIMB.
FBMKLCI Technical Indicators
KLCI candlestick still above the mid-band and the Bollinger band contracted by -7%. This indicates FBMKLCI is under short-term correction stage, it may move side way next week.
RSI decreases to 73.85. This indicates that FBMKLCI is getting weaker however the bullish trend has not damage.
STC %K decreases to 59.98 and the %D decrease to 81.46. This indicates FBMKLCI is getting bearish now due to heavy correction today.
MACD maintains above zero level but the histogram starts forming the rounding top scenario. This may suggest correction and moving side way.
The overall market technically is in under short-term correction and the overall momentum is decreasing with the market volume traded below VMA. The market will be in consolidating stage next week until the Bollinger band re-opens with the candlestick stay above BBMB. The nearest possible resistance levels are 1320, 1334, and 1353. The nearest possible support levels are 1308, 1304 (BBMB) and 1300. FBMKLCI may retest 1300 level to fill the gap before resume higher.
Please refer to the chart below for more information.
