There are 187 up counters and 557 down counters with the market total traded volume decreased by 7.2% to 633 MIL shares. The volume is far below the 40 days VMA of 932 MIL shares. This means the investors had started to stay sideline.
Today’s FBMKLCI top 5 gainers components are PLUS, RHBCAP, PPB, AMMB and UMW. The top 5 lagging components are MMCCORP, AXIATA, IOICORP, TM and KLK.
FBMKLCI Technical Indicators
The INDEX dipped below the Mid-Band with the Bollinger band contracted -2%; this indicates FBMKLCI is bearish to neutral biased.
RSI decreases to 45.42; this indicates FBMKLCI is bearish biased for short-term.
STC %K decreases to 54.36 and the %D increases to 74.42, this indicates FBMKLCI is consider as neutral to bearish biased for short-term.
The MACD line continues to hook down and the histogram has formed a rounding top. This indicates FBMKLCI is bearish biased.
Summary
Most the indicators indicate FBMKLCI is slightly bearish biased but still closed to neutral. However the market volume continues to decrease, this means that many investors had started to stay away from the market.
The nearest possible resistance levels for FBMKLCI are BBMB, 1345 and 1350. The nearest possible support levels are today’s low 1327, the L2 trend line and the FIBO 1320.29. Please refer to the chart below for better understanding.
