There are 134 up counters and 622 down counters with the market total traded volume slightly increased by 3.7% to 812.9 MIL shares. The total traded volume is below 40 days VMA; that’s means investors had started to sideline.
Today’s FBMKLCI top 5 gainers components are PETGAS, ASTRO, SIME, YTL and MISC. The top 5 lagging components are DIGI, TANJONG, BAT, NESTLE and HLBANK.
FBMKLCI Technical Indicators
The INDEX stays below the mid-band with the Bollinger band expanded by 26%; this indicates FBMKLCI is bearish biased for short term.
RSI dipped below the threshold 70 at 55.63; this indicates FBMKLCI is bearish biased for short term.
STC %K decrease below 30 to 20.56 and the %D decreased to 35.52. This indicates FBMKLCI is bearish biased for short term.
The MACD had crosses the trigger line and the histogram continued to dip below ZERO level. This indicates FBMKLCI short-term correction.
Summary
All the indicators above indicate FBMKLCI is bearish now. With the market volumes traded below 40 days VMA, the short-term view for KLCI will be bearish. The nearest possible resistance levels for FBMKLCI are 1334, BBMB and 1347.6. The nearest possible support levels are 1320, 1308 and 1292. Please refer to the chart below for better understanding.
