FBMKLCI was traded sideway below yesterday’s closing points for the whole session. Although it pushed up during the closing level but it still closed negative at 1362.74 (-1.09, -0.08%). The Bollinger10 is contracted 6% due to consolidation today. Nevertheless the CI still above the BMB, the up-trend may not end yet unless it breaks below the BMB for the next few days.
The overall market’s sentiment is considered as slightly bearish today as there were 322 up counters and 363 down counters with the market total traded volume decreased -26% at 811 MIL shares. The trading volume is above 40 days VMA and it is sufficient to absorb any selling pressure.
Today’s FBMKLCI top 5 gaining components (CI gainers) are PATDAG, PPB, TANJONG, DIGI and HKBANK. The top 5 lagging components (CI losers) are GENTING, BAT, CIMB, AXIATA and PLUS.
The primary and secondary indicators
FBMKLCI candlestick stays above the BB10’s mid-band with the BB10 contracted -6% due the index closed –1.09 points today. It is still well position above the EMA 14/21/31 but it considers sideway. The RSI hooks down to 70 but the MACD was flat, this indicates the index is consolidation. The STC hooks down below 90% but still above, this indicates the index still considers as in the bullish zone.
Supports and Resistances
Most the indicators indicate FBMKLCI is consolidation today. The nearest possible resistance levels for FBMKLCI is the previous high 1370, 1380 and 1390 whereas the nearest possible supports levels is the BMB10 and the 23.6% FR 1340.
