There are 362 up counters and 241 down counters with the market total traded volume decreased by 14.7% to 666 MIL shares. The volume is below the 40 days VMA of 918 MIL shares; this means that the investors are caution.
Today’s FBMKLCI top 5 gainers components are KLK, BJTOTO, BAT, TANJONG and GENTING. The top 5 lagging components are IOICORP, AXIATA, TENAGA, MISC and MMCCORP.
FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded 6%; this indicates FBMKLC is bullish bias for short-term.
RSI slightly increases to 59.55; this indicates FBMKLCI is slightly bullish biased for short-term.
STC %K increases to 83.03 and the %D increases to 65, this indicates FBMKLCI is bullish biased for short-term.
The MACD line continues to hook up and the histogram had formed a rounding bottom; this indicates FBMKLCI is bullish biased for short-term.
Summary
All the indicators indicate FBMKLCI is bullish biased for short-term. However if we analysed the overall market by sectors, we found that most of them still closed below the Mid-band. The market volume closed further below 40 days VMA, this means that many investors are sideline. The nearest possible resistance levels for FBMKLCI are 1350. The nearest possible support levels are the BBMB (1340), 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.
