The overall market’s sentiment is considered as mixed today as there were 362 up counters and 349 down counters with the market total traded volume increased by 22.5% to 993 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 BAT, MAS, GENTING, AXIATA and PPB. The top 5 lagging components (CI losers) are SIME, BJTOTO, PBBANK, MMCCORP and DIGI.
The primary and secondary indicators counters
FBMKLCI candlestick stays above the BB10’s mid-band with the BB10 contracted another -6% due the index closed –0.66 points today. It is still well position above the EMA 14/21/31 but it considers sideway. The RSI hooks up slightly but the MACD hooked down slightly, this indicates the index is consolidation. The STC hooks down and almost touching the 70 levels, this indicates the index still in the bullish zone although it was closing flat.
Supports and Resistances
Most the indicators indicate FBMKLCI is consolidation today. The nearest possible resistance levels for FBMKLCI is the previous high 1370 and the range from 1380 to 1390 whereas the nearest possible supports levels is the BMB10 and the 23.6% FR 1340. Please refer to the daily chart below.
