The overall market’s trend is considers as slightly bullish biased today as there are 302 up counters and 242 down counters with the market total traded volume slightly increased by 0.1 % to 502 MIL shares. The market’s volume is below 40 days volume moving average and this indicates the investors especially the institutional funds are caution.
Today’s FBMKLCI top 5 gainers components are MMCCORP, YTL, PLUS, PPB and IOICORP. The top 5 lagging components are CIMB, DIGI, AMMB and NESTLE.
FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band getting narrower by 24%; this indicates FBMKLCI is considered as sideway.
RSI increases to 54.79; this indicates FBMKLCI is slightly bullish biased.
STC %K increased to 82.15 and the %D increased slightly to 84.07, this indicates FBMKLCI is bullish biased.
The MACD line slightly hooks up again and crosses the trigger line but it stays below the ZERO level. The histogram seems to grow slightly higher to avoid the rounding top. This indicates FBMKLCI is slightly bullish biased.
Summary
Most of the indicators indicate FBMKLCI is sideway with slightly bullish biased. The Bollinger Band is very narrow and it ready to open for a new trend. We found that many stocks seem to form a higher low or rebounded from a double bottom. There is a chance for the market to rebound in short term even though the World Cup had started.
The nearest possible resistance level for FBMKLCI is 1308 and the nearest possible support level is 1290. Please click on the chart below for better understanding.
