Today’s FBMKLCI top 5 gainers components are AMMB, CIMB, GENTING, PETDAG and TANJONG. The top 5 lagging components are ASTRO, MISC, PPB, MMCCORP, and DIGI.
FBMKLCI Technical Indicators
The INDEX still stays above the mid-band with the Bollinger band expanded 9%, this indicates FBMKLCI still consolidating with slightly bullish biased as this is the 1st time the BB “OPEN” with the candle stays above the BBMB after 12 trading sessions.
RSI decreased slightly at 48.65; this indicates FBMKLCI is sideway biased for short term. However the RSI is a lagging indicator.
STC %K was increased to 90.44 and the %D increased to 69.89. This indicates FBMKLCI is bullish biased.
The MACD is growing side way but still far away from the trigger line. If it crosses the trigger line, it will be bullish biased. The histogram had formed a rounding bottom; this indicates FBMKLCI will have a chance to rebound soon.
Summary
Most of the indicators above indicate FBMKLCI is bullish biased however the trading volume still below 40 days VMA. If the market volumes exceeded 40 days VMA the chances for the index and the market to resume up-trend will be better.
The nearest possible resistance levels for FBMKLCI are 1347.6, 1354 and the L1 trend line. The nearest possible support levels are BBMB (1335), the L2 trend line, and 1321. Please refer to the chart below for better understanding.
