Today FBMKLCI rebounded strongly on technical after it had been falling for 9 trading days. It closed slightly above the 200 days MA at 1269.16 (+20.22, +1.62%). It is still considered as technical rebound and it was resisted by 1272.33 FIBO at this moment.
There are 635 up counters and 142 down counters with the market total traded volume decreased by -7% to 864 MIL shares. It is slightly below 40 days volume moving average today.
Today’s FBMKLCI top 5 gainers components are MMCCORP, GENM, HLFG, SIME and BAT. The top 4 lagging components are PLUS, YTLPOWR, BJTOTO and UMW.
FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted -2%; this indicates FBMKLCI did not extend the falling trend but it is still considered in bearish zone although it rebounded strongly today.
RSI increases slightly to 26.47; this indicates FBMKLCI still in bearish zone although it rebounded technically.
STC %K increased to 25.98 and the %D increased to 10.14, this indicates FBMKLCI still in bearish zone although it rebounded technically.
The MACD line started to hook sideway below the ZERO level and the histogram was hooked up a bit, this indicates FBMKLCI is stop falling today.
Summary
All the indicators indicate FBMKLCI still not get out from the bearish zone yet although it rebounded strongly today. It had broken out the 200 days MA however it is just slightly above it and yet to be confirmed.
The nearest possible resistance levels for FBMKLCI are 1272, 1290 and 1302. The nearest possible support levels are 200 days MA, 1254 and 1224. Please click on the chart below for better understanding.
