With DJI up +123 pints, FBMKLCI is encouraged to open high above EMA14 and finally closed on the ema14 level, that's 1290 up by merely +1.90. The overall market’s trend is considered as side way today as there are 344 up counters and 266 down counters with the market total traded volume is increased by 20% to 630 MIL shares but unfortunately still below the expected VMA of 780mil shares.
Today’s FBMKLCI top 5 contributing components are GENM, MAXIS, TENAGA, AXIATA, and GENTING. The top 5 lagging components are MMCCORP, IOICORP, RHBCAP, MAYBANK, and PETDAG.
FBMKLCI Technical Indicators
The KLCI stays above the Bollinger Middle Band (1281) with the Bollinger band expanded 4%; this indicates FBMKLCI still considers as consolidation with slightly up swing.
RSI goes side way to 37.21, this indicates FBMKLCI is considered as consolidation.
STC %K hooks up to 85.77 and the %D increases to 85.12, this indicates FBMKLCI is bullish biased.
MOM has increased higher above zero level, this indicates momentum of participation is increased.
The MACD line is ticking up and further crossing the trigger line but it still stays below the ZERO level. This indicates FBMKLCI is slightly bullish but still vulnarable to market sentiment.
Summary
Most of the indicators indicate FBMKLCI is still under consolidation above the Bollinger Middle Band. FBMKLCI also staying on the EMA14 level 1290 now. The nearest possible resistance levels for FBMKLCI are 1290 (EMA14), 1296, 1300, and 1309. The nearest possible support levels are 1284, BMB, and 1269.
Please click on the charts below for better visual understanding.
