Tag: FBMKLCI

FTSE Bursa Malaysia Kuala Lumpur Composite Index

Outlook:
From a technical perspective, the FBMKLCI continues to form higher highs and higher lows that indicate the
uptrend pattern. The index managed to penetrate above the psychological resistance of 1,600 in last week’s
movement. The RSI has shown an improvement in bullish momentum and is currently ranging above the
50pts. This is supported by a bullish crossover on the MACD. In line with our earlier expectations, the
FBMKLCI has continued to move upwards based on a lower time frame. The index has continued to form a
higher high and higher low, and we expect the index to continue on towards the psychological level of 1,700.

Strategy:
We remain positive on the short- to medium-term outlook but the selling pressure must be fully absorbed for the
index to go higher. We expect the uptrend to resume once selling pressure eases. Investors can accumulate
more even if the market starts to improve further.

Support: 1,540/ 1,500
Resistance: 1,681 / 1,700

Analyst
Mohd Fakhrul Asyraq Bin Mohd Aluwi, MSTA, CFTe

FTSE Bursa Malaysia Kuala Lumpur Composite Index

Outlook:
A bullish engulfing pattern was spotted on the weekly chart which indicates a bullish reversal pattern. The index has recovered from the low of 1,450 a few weeks ago to close at 1,524.32 on Monday. This bullish momentum is supported by an uptick in the RSI and a bullish crossover in the DMI. Currently, the MACD is on the verge of making a golden cross to the positive signal. We expect the index to move towards the resistance level of 1,576 and the psychological level of 1,600 once it penetrates above the 1,530 level.

Strategy:
With the short-term trends pointing to an uptrend, investors and position traders may wish to remain on the sidelines and wait for a breakout confirmation above the 1,530 level. Investors can accumulate more if the market starts to improve further.
Support: 1,450/1,430
Resistance: 1,576/1,600

Analyst
Mohd Fakhrul Asyraq Bin Mohd Aluwi, MSTA, CFTe

FTSE Bursa Malaysia Kuala Lumpur Composite Index

Outlook:

Based on the weekly candlestick analysis, a spinning top pattern was spotted on the chart, which indicates indecisive movement ahead. However, the FBMKLCI has traded within the immediate support and resistance levels of 1,477 and 1,550 in the last four weeks. This
movement is supported by negative readings in the DMI and MACD, which suggest that selling momentum still overcame buying momentum. We expect the index to continue the sideways movement from 1,477 to 1,550 in the near term. Violation of either barrier should prolong the upward or downward movement respectively.

Strategy:
Given the uncertainties on the external front, we recommend investors approach the market cautiously. Profit-taking activity may kick in sooner amid the recent gains.
Support: 1,477/ 1,450
Resistance: 1,550 / 1,600

Analyst
Mohd Fakhrul Asyraq Bin Mohd Aluwi, MSTA, CFTe

FTSE Bursa Malaysia Kuala Lumpur Composite Index

Outlook:
The FMBKLCI continues to form lower highs and lower lows that indicate a downtrend. The index penetrated the uptrend line over the last few weeks closed at 1,516.28 on 7 Sep 20. This is supported by a downtick in the RSI and a bearish crossover in the MACD. Currently, the DMI
is on the verge of making a dead cross to the negative signal that shows selling momentum is starting to overcome buying momentum. We expect the FBMKLCI to retest the psychological resistance of 1,500 in the near term. The recent sharp drop on intense selling suggests
more weakness in the longer term. But overall, we expect the index to trade sideways, based on recent weeks’ movements.
Strategy:
Since the index is now in bearish mode, we suggest
investors to wait at the sidelines and buy on dips.
Support: 1,477/ 1,445
Resistance: 1,576 / 1,600
Analyst
Mohd Fakhrul Asyraq Bin Mohd Aluwi, MSTA, CFTe