There are 336 up counters and 295 down counters with the market total traded volume increased by 9.1% to 690 MIL shares. The volume is still below the 40 days VMA of 928 MIL shares. This means many investors still choose to stay sideline.
Today’s FBMKLCI top 5 gainers components are TANJONG, GENM, BAT, CIMB and ASTRO. The top 5 lagging components are PLUS, MAYBANK, GENTING, PPB and RHBCAP.
FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted another -2%; this indicates FBMKLCI is still considers as neutral to bearish biased.
The INDEX was stays below the EMA/14/21/31. this indicates FBMKLCI is trending down. If the EMAs turn dead cross, then it will be bearish.
RSI decreases to 42.88; this indicates FBMKLCI is slightly bearish biased for short-term.
STC %K decreases to 44.79 and the %D increases to 65.13, 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 is bearish biased.
Summary
Most the indicators indicate FBMKLCI is neutral to bearish biased. However the market volume continues to decrease, this means that many investors had started to stay away from the market. Without market volume support, the trend will be sideway to bearish biased.
The nearest possible resistance levels for FBMKLCI are EMA31 (1333), EMA21 (and 1336) and the Bollinger BMB at 1337. The nearest possible support levels are L2 trend line, 1327, and the FIBO 1320.29. Please refer to the chart below for better understanding.
