The overall market’s trend is considers as bullish today as there were 371 up counters and 265 down counters with the market total traded volume decreased by 8.1% to 610 MIL shares. The market volume is slightly below the 40 days VMA today; this means that the investors still caution about the current market rebound.
Today’s FBMKLCI top 5 gaining components are PPB, MAYBANK, AXIATA, PLUS and RHBCAP. The top 5 lagging components are GENTING, TANJONG, PETDAG, MAS, and BJTOTO.
FBMKLCI Technical Indicators
FBMKLCI stays above the Bollinger Middle Band 10 (BMB10). The Bollinger Band 10 (BB10) had opened slightly from -2% to 0%; this means that FBMKLCI is considered as consolidation.
RSI dropped below 50% at 44.43; this indicates FBMKLCI is in the neutral zone and slightly bearish biased.
STC %K increases to 86.62 and the %D increases to 67.6, this indicates FBMKLCI
is bullish biased.
Momentum is at 0%, this indicates FBMKLCI is considered as neutral.
The MACD is trending up slightly and the histogram had formed a rounding bottom; this indicates FBMKLCI is bullish biased.
The indicators for FBMKLCI are mixed, but the primary indicators like EMA and Bollinger10 indicate the index is consolidation with slightly bullish biased.
The nearest possible resistance levels for FBMKLCI is the L1 trend line and the previous 1335 whereas the nearest possible supports levels are 1325 (FR 76.4%) and 1309 (FR 61.8%). The Bollinger Mid band and the EMA14/21/31 also act as the support levels for FBMKLCI. Please refer to the picture below.
