FBMKLCI continues to rally into the 7th day lead by CIMB, PPB, PETDAG, GENTING and GENM. MAYBANK was surging strongly to RM8.40 in the morning but profit in the afternoon and its share’s price was retreated to 8.14 at the closing. Although the CI up +8.13 points at 1403.15 (+0.58%) and broke out 1400 psychological level during the closing but there are many stocks were under correction today. The buy rate was dropped to 35% near the closing, this means that there are many sellers are taking profit.
The overall market’s sentiment is considered as slightly bearish biased eventhough the CI up >8 points, as there were 291 up counters and 465 down counters with the market total traded volume decreased –3.5% 805 MIL shares. The trading volume is just at the 40 days VMA.
All the indicators indicate FBMKLCI is bullish biased. The STC still at 100%, which indicates CI components are over bought now. The RSI is at 78 and the MACD is hooking up, this indicates the CI is bullish biased. The next possible FBMKLCI resistance level is 1412, the bigger ascending wedge’s upper trend line. Whereas the nearest possible supports level is 1380 to 1370.
FKLI is up by +10.0 points to close at 1400. It is bullish biased like FBMKLCI.
FCPO temporary found a support at 2533, and it considers as sideway today.
