FBMKLCI was lower by another -1.63 points to close at 1360.45 (-0.12%) and it manages to support at the BBMB10. If it drifts below the BBMB10 by next week, the outlook of the CI will turn bearish.
The overall market’s sentiment is considered as slightly bearish as there were 328 up counters and 367 down counters with the market total traded volume decreased -13% at 866 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, MMCCORP, MISC, HLBANK and KLK. The top 5 lagging components (CI losers) are PETDAG, GENTING, TANJONG, MAS and MAYBANK.
The primary and secondary indicators counters
FBMKLCI candlestick stays above the BB10’s mid-band with the BB10 contracted another -33% due the index is moving down and closed to the BBMB10. It considered as neutral to bearish biased. The RSI hooks down slightly above 70 and the MACD hooked down almost crossing the trigger line. This indicates the index is sideway to bearish biased. The STC hooks down below 70 levels but above 50, this indicates the index consolidation to bearish biased.
Supports and Resistances
Most the indicators indicate FBMKLCI is consolidation to bearish biased today. The nearest possible resistance levels for FBMKLCI is the previous high 1370 whereas the nearest possible supports levels is the BBMB10 and the 23.6% FR 1340.
