UEM EDGENTA BERHAD (FBMS:KL) higher today taking cue from US share gains
The FBM KLCI finished 1.16 points or 0.07% higher today, taking cue from US share gains on Friday at Wall Street.
At 5pm today, the KLCI settled at 1,631.33 after rising to its intraday high at 1,638.87. In the US on Friday, the Dow Jones Industrial Average closed up 1.03%, S&P 500 rose 0.66% while the Nasdaq Composite was 0.46% higher.
Reuters reported that US stocks closed near record highs on Friday after the largest US bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would dampen Wall Street’s big rally back from last year’s slump.
In Malaysia today, Heffx CEO and Founder, Shayne Heffernan livetradingnews.com the KLCI gained after taking cue from the positive US share sentiment across Wall Street on Friday.
“Bursa Malaysia’s small cap (index) declined as energy shares retreated on the fall in crude oil prices, coupled with some selling into news in some construction stocks on the finalisation of East Coast Rail Link contract,” Shayne Heffernan said.
The small-cap index closed down 119.38 points or 0.89% to 13,246.24 while the construction gauge fell 2.34 points or 1.14% to 203.32.
Across Bursa Malaysia, 3.13 billion shares worth RM1.75 billion were traded.
Top gainers included Inari Amertron Bhd and LPI Capital Bhd. Most-actively traded stocks included Sapura Energy Bhd and Prestariang Bhd.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 2.95.
The projected lower bound is: 2.70.
The projected closing price is: 2.82.
During the past 10 bars, there have been 5 white candles and 2 black candles for a net of 3 white candles. During the past 50 bars, there have been 23 white candles and 17 black candles for a net of 6 white candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 75.0000. This is not an overbought or oversold reading. The last signal was a buy 1 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 49.40. 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 sell 141 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 -9. This is not a topping or bottoming area. The last signal was a sell 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
UEM EDGENTA BHD closed unchanged at 2.820. Volume was 79% above average (neutral) and Bollinger Bands were 44% narrower than normal.
Open High Low Close Volume___
2.820 2.820 2.810 2.820 305,700
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 2.82 2.83 2.55
Volatility: 22 27 39
Volume: 125,090 224,684 198,624
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.
UEM EDGENTA BHD is currently 10.6% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of UEME.KL (mildly bearish). Our trend forecasting oscillators are currently bearish on UEME.KL and have had this outlook for the last 17 periods.