Unexpectedly, FBMKLCI resumes its uptrend so fast after one day of profit taking. In fact, we are not alone, the overall ASIA bourses also on the uptrend. FBMKLCI open at 1319.27 (+1.33) with intraday high at 1330.21(+12.27) and intraday low at 1319.27 (+1.33) and finally closed 1328.22 (+10.28) with 451 up counters and 292 down counters. The market volume has increased by 17.1% with 934 MIL shares traded, but it was traded just slightly below 40 days volume moving average today.
With the FBMKLCI breaks up and stays above 1308, our market is in very bullish position and may be prepared to go even higher toward our last height of 1524 during Jan-2008.
The market is on the rotational theme trade, today’s FBMKLCI is on the plantation play and non-FBMKLCI is on Technology theme trade. Plantation theme active counters are SIME, PPB, and IOICORP. Counters like ENG, GTRONICS, MPI, DUFU, GUH, and NOTION are actively participated. In the recent theme trade, Steel, Oil&Gas, Property, has not been in the rotational yet.
Today’s FBMKLCI top 5 leading components are SIME, PPB, IOICORP, MAYBANK, and CIMB, while the lagging components are TM, MAXIS, DIGI, and TANJONG.
FBMKLCI Indicators
KLCI candlestick still within the uptrend band and the Bollinger band expanded 11%. This indicates FBMKLCI is bullish biased. Uptrend is still intact.
RSI slightly increase to 88.11, this indicates that FBMKLCI is still bullish. Uptrend is still intact.
STC %K increases to 96.68 and the %D increases to 94.8. This indicates FBMKLCI is still bullish. Uptrend is still intact.
MACD maintains above zero level and today hooked up further. This indicates uptrend is still intact on FBMKLCI.
All the indicators above indicate FBMKLCI is in uptrend status with slight set back is the traded volume is slightly below VMA. The nearest possible resistance levels are 1330, 1353, 1380, 1436, and 1524. The nearest possible support levels are 1318, 1308, 1305, 1300, 1295(BBMB).
