FTSE Bursa Malaysia KLCI (.KLSE) remains in positive territory

FTSE Bursa Malaysia KLCI (.KLSE) remains in positive territory

FTSE Bursa Malaysia KLCI (.KLSE) remains in positive territory

Bursa Malaysia remained in the positive territory Thursday, lifted by buying in selected heavyweights namely in utilities, finance and plantation-related counters.

Tenaga, Public Bank, CIMB and Sime Darby Plantation contributed 4.074 points to the composite index.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.82 points to 1,534.98 from Wednesday’s close of 1,534.16.

After opening 2.93 points higher at 1,537.10 this morning, the local index moved between 1,531.15 and 1,540.18 throughout the day.

However, on the scoreboard, losers beat gainers 436 to 405, while 410 counters were unchanged, 731 untraded and 40 others suspended.

Turnover increased to 2.96 billion shares worth RM2.27 billion from 2.54 billion shares worth RM1.95 billion recorded on Wednesday.

Interpac Asset Management economist Datuk Dr Nazri Khan said despite a slight increase in the local bourse, the equity market is still generally on a downtrend.

Sector-wise, the Industrial Products and Services Index inched up 0.39 point to 146.82, the Financial Services Index improved 48.74 points to 14,700.12 but the Plantation Index shed 29.90 points to 7,150.32.

Main Market volume increased to 1.7 billion shares valued at RM1.99 billion from 1.46 billion shares valued at RM1.68 billion recorded on Wednesday.

Warrants turnover appreciated to 395.51 million units worth RM69.06 million versus 322.39 million units worth RM52.19 million.

Volume on the ACE Market advanced to 870.55 million shares valued at RM211.62 million compared with 764.70 million shares valued at RM217.32 million.

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 1,569.07.

The projected upper bound is: 1,563.77.

The projected lower bound is: 1,505.08.

The projected closing price is: 1,534.43.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 22.0397. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 39.12. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -54. This is not a topping or bottoming area. The last signal was a buy 12 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.

Rex Takasugi – TD Profile

FTSE BURSA KLCI closed up 0.820 at 1,534.980. Volume was 20% above average (neutral) and Bollinger Bands were 18% narrower than normal.

Open     High      Low     Close     Volume___
1,537.1001,540.1801,531.1501,534.980 125,662,200
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 1,541.87 1,572.63 1,603.53
Volatility: 7 12 10
Volume: 110,824,960 111,001,064 110,893,280

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FTSE BURSA KLCI is currently 4.3% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of .KLSE (mildly bearish). Our trend forecasting oscillators are currently bearish on .KLSE and have had this outlook for the last 18 periods.

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