There are 275 up counters and 441 down counters with the market total traded volume slightly decreased by –8.2% to 961 MIL shares. The decrease in volume also means some investors started to take profit or reduce their portfolios. However the market’s volume still maintains above 40 days VMA.
Today’s FBMKLCI top 5 gainers components are BAT, CIMB, MISC, PETGAS and PETDAG. The top 5 lagging components are GENTING, NESTLE, RHBCAP, PLUS and TANJONG.
FBMKLCI Technical Indicators
The candlestick still stays above the mid-band with the Bollinger band expanded only 5%, this indicates FBMKLCI up trend is getting weaker and consider as sideway.
RSI hooked down to 44.35 and re-enter the neutral zone, this indicates FBMKLCI still sideway biased.
STC %K had decreased to 89.69 and the %D had increased to 91.85. This indicates FBMKLCI still bullish biased but seem to go sideway.
The MACD line goes sideway and will touch the trigger line soon. The histogram had formed a rounding bottom but still not able to cross above the zero level. This indicates FBMKLCI is sideway with bullish biased.
Summary
FBMKLCI had tested 1320 resistance level for the last 2 days and it just stay above 1320 today. We cannot conclude FBMKLCI had broken out 1320 because it is just marginally stays above it and this is also a last minute pushed up. If tomorrow it can close a few more points higher, then we are confident the market won’t turn around.
The nearest possible resistance levels for FBMKLCI are 1334 and 1353. The nearest possible support levels are 1320, 1308, 1300 and 1292. Please refer to the chart below for better understanding.
