FBMKLCI was opened flat but getting stable after 11am supported by CIMB, GENTING, HLFG and RHBCAP. It was traded sideway above yesterday closing points and closed positive at 1355.19 (+2.95, +0.22%). It recorded a 2 1/2 years new closing hgh today. Although it rose only 3 points but it considers as bullish biased. The profit taking activity still going on but it is not serious.
The overall market’s sentiment is considered as bullish biased today as there were 445 up counters and 264 down counters with the market total traded volume increased +15.8% at 847 MIL shares. The trading volume is above 40 days VMA and it is sufficient to support any selling pressure.
Today’s FBMKLCI top 5 gaining components (CI gainers) are HLFG, GENTING, CIMB, MAS and RHBCAP. The top 5 lagging components (CI losers) are BJTOTO, SIME, YTLPOWR, PBBANK and TM.
The primary and secondary indicators
FBMKLCI candlestick stays above the BB10’s mid-band with the BB10 opened 11% due the index UP 2.96 points. It is well position above the EMA 14/21/31. This indicates the CI is bullish biased. RSI was flat at 79.36 but MACD continues to hook up, this indicates the index is bullish biased. The STC hooked up to 93, this indicates the CI is bullish.
Support and Resistance
Most the indicators indicate FBMKLCI is bullish biased. The nearest possible resistance levels for FBMKLCI is 1357 and 1425 whereas the nearest possible supports levels is BMB (10), L1 trend line and 1327 (FR 23.6%). Please refer to the picture that posted yesterday. There are not many changes from yesterday.
