There are 396 up counters and 253 down counters with the market total traded volume increased by 35.8% to 905.7 MIL shares. The volume is almost touching the 40 days VMA of 924 MIL shares; this is a good sign, means that more investors had started to buy.
Today’s FBMKLCI top 5 gainers components are MMCCORP, MAYBANK, TM, TANJONG and PLUS. The top 5 lagging components are BJTOTO, GENM, KLK, BAT and UMW.
FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded 3%; this indicates FBMKLC is slightly bullish bias for short-term.
RSI slightly decreases to 59.41; this indicates FBMKLCI is sideway biased for short-term.
STC %K increases to 91.25 and the %D increases to 75.23, this indicates FBMKLCI is bullish biased for short-term.
The MACD line continues to hook up and almost tough the trigger line. The histogram had formed a rounding bottom and almost cross the ZERO level. This indicates FBMKLCI is bullish biased for short-term.
Summary
Most the indicators indicate FBMKLCI is bullish biased for short-term however the resistance is getting stronger now as it approaching 1349.92 previous peak. The increase of volume is a good sign that some investors had return to the market. Nevertheless the higher volume could be contributed by the top 3 high runners; AIM is under selling pressure, Maxbiz is under profit taking and Tranmil was buying up due to POS might acquire it.
The nearest possible resistance levels for FBMKLCI are 1350. The nearest possible support levels are the BBMB (1340.8), 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.
