FTSE Bursa Malaysia KLCI (.KLSE) turns marginally lower

FTSE Bursa Malaysia KLCI (.KLSE) turns marginally lower

FTSE Bursa Malaysia KLCI (.KLSE) turns marginally lower

The benchmark index FBM KLCI turned marginally lower at mid-afternoon today, bucking the regional trend, with improving Asian stocks, a dealer said.

At 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.24 of-a-point to 1,598.08.

The benchmark index opened 6.12 points better at 1,604.44.

Market breadth was negative, with losers outpacing gainers 450 to 250, with 335 counters unchanged, 907 untraded and 24 others suspended.

Turnover stood at 1.03 billion worth RM645.14 billion.

Among the heavyweight losers, Tenaga slipped 28 sen to RM11.26, PChem declined 19 sen to RM8.56, IOI and Harta both reduced six sen each to RM4.20 and RM5.09, respectively, while AMMB lost 11 sen to RM4.22.

Of the actively-traded stocks, Armada added 1.5 sen to 20 sen, KNM reduced 1.5 sen to 18.5 sen, Ekovest was 4.5 sen easier at 72.5 sen and VC was flat at 25 sen. 

The FBM Emas Index up 4.87 points to 11,192.79, the FBMT 100 Index increased 8.24 points to 11,050.05 and the FBM 70 rose 50.60 points to 13,600.13

The FBM Emas Shariah Index lost 15.80 points to 11,299.70 and the FBM Ace eased 28.41 points to 4,260.59.

Sector-wise, the Financial Services Index added 33.52 points to 16,568.09, the Plantation Index climbed 3.34 points to 6,820.43 but the Industrial Products & Services Index was 1.35 points lower at 160.66. — Bernama

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 1,642.60.

The projected upper bound is: 1,622.04.

The projected lower bound is: 1,577.59.

The projected closing price is: 1,599.81.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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 42.0411. This is not an overbought or oversold reading. The last signal was a buy 7 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 37.82. 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 6 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 -59. This is not a topping or bottoming area. The last signal was a buy 6 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 sell 9 period(s) ago.

Rex Takasugi – TD Profile

FTSE BURSA KLCI closed up 3.030 at 1,601.350. Volume was 37% below average (neutral) and Bollinger Bands were 25% wider than normal.

Open High Low Close Volume___
1,604.4401,604.4401,597.2501,601.350 73,365,504

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1,603.18 1,634.74 1,702.02
Volatility: 8 9 11
Volume: 116,347,912 110,333,248 126,545,112

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 5.9% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .KLSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .KLSE and have had this outlook for the last 9 periods.

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