There are 529 up counters and 194 down counters with the market total traded volume decreased by 14% to 805 MIL shares. The volume is below the 40 days VMA of 919 MIL shares; this means that the investors are caution.
Today’s FBMKLCI top 5 gainers components are TENAGA, BJTOTO, CIMB, NESTLE and MAXIS. The top 5 lagging components are AXIATA, HLBANK, UMW, DIGI and PETGAS.
FBMKLCI Technical Indicators
The INDEX stays BELOW the Mid-Band with the Bollinger band expanded 3%; this indicates FBMKLC is bearish to sideway bias for short-term.
RSI slightly increases to 56.5; this indicates FBMKLCI is sideway biased for short-term.
STC %K increases to 53.48 and the %D decreases to 45.47, this indicates FBMKLCI is sideway to bearish biased for short-term.
The MACD line continues to hook down a little and the histogram seem to turn rounding bottom soon; this indicates FBMKLCI is sideway biased for short-term.
Summary
All the indicators above indicate FBMKLCI is sideway biased for short-term. The composite index is moving sideway but actually most of the lower liners are having a temporary technical rebound today. The nearest possible resistance levels for FBMKLCI are 1334, the BBMB (1337) and 1340. The nearest possible support levels are 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.
