There are 236 up counters and 472 down counters with the market total traded volume decreased by 14.8% to 831 MIL shares. The market volume is just below 40 days VMA today. This means that the investors are getting caution.
Today’s FBMKLCI top 2 gainers (only 2 gainers today) components are TENAGA, and AXIATA. The top 5 lagging components are PETDAG, GENTING, DIGI, AMMB, and MMCCORP.
FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band opened 2%; this indicates FBMKLC is sideway to bearish biased for short-term.
RSI further decreased to 40.12; this indicates FBMKLCI is sideway to bearish biased for short-term.
STC %K was hooked down below 70 threshold at 57.28 and the %D decreased slightly to 75.90. This indicates FBMKLCI is sideway to bearish biased for short-term.
The MACD line had hooked down and the histogram had failed to form a rounding bottom; this indicates FBMKLCI turn bearish.
Summary
Most of the indicators above indicate FBMKLCI is sideway to bearish biased now. The decreased of market volumes indicate some of the investors started to sideline.
The nearest possible resistance levels for FBMKLCI are, 1334, the Mid-band and 1347.6. The nearest possible support levels are 1321, 1318 (Fibo23.6%) and 1308. Please refer to the chart below for better understanding.
