The overall market’s trend is considers as bearish biased today as there were 267 up counters and 343 down counters with the market total traded volume decreased by 24%% to 563 MIL shares. The market volume is below the 40 days VMA today; this means that many investors chose to stay sideline; in another word there is no selling pressure happen today.
Today’s FBMKLCI top 2 gainers components (only 2 gainers today) are UMW and RHBCAP. The top 5 lagging components are BAT, TANJONG, PPB, PETGAS and IOICORP.
FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted -16%; this means that although the index was downed but it is still considered as consolidation.
RSI decreases to 64.93; this indicates FBMKLCI is consolidation.
STC %K hooks down to 32.56 and the %D decreases to 61.27, this indicates FBMKLCI is bearish biased.
The MACD line had hooked down and the MACD histogram had formed a rounding top, this indicates FBMKLCI is bearish biased.
Summary
Most of the indicators indicate FBMKLCI is bearish biased but it is still considered as consolidation. The nearest possible resistance levels for FBMKLCI are EMA14 (1315) and the BBMB whereas the nearest possible support levels are 1309 (61.8% FR) and 1295 (50% FR). Please refer to the picture below.
