FBM KLCI

Technical Outlook
FBM KLCI Technical Outlook
M onda y , 2 9 Fe b, 2 0 1 6

Monday, 29 Feb, 2016

FBMKLCI
W-o-W change

-11.44 pts
-0.7 %

Open

1,664.84

High

1,665.64

Low

1,658.36

Close

1,663.44

52-week hi

1,867.53

52-week low

1,503.68

FBM 100

11,245.43

FBM Mid 70

12,776.12

FBM EMAS

11,540.64

FBM Small Cap

15,173.25

FBM ACE

5,690.60

Industrial

3,249.47

Technology

22.93

Construction

269.93

Consumer Products

589.78

Finance
Industrial Products

14,028.51
145.21

Plantations

7,837.09

Properties

1,127.27

Trading/Services

223.72

Mining

490.39

Malacca Securities Sdn Bhd

(A participating organisation of Bursa Malaysia)

No. 1, 3 & 5, Jalan PPM 9,

Plaza Pandan Malim
(Business Park)
Balai Panjang
75250 Melaka
Malaysia
Tel: 06-337 1533 (General)
Fax: 06-337 1577
Hotline: 1300 22 1233
Email:
support@mplusonline.com.my
Website: www.mplusonline.com.my

Index Flat Amid Disappointing Corporate Results

Weekly Recap

U.S. equities moved strongly in a positive

tone at the start of the week in tandem with
the rising WTI crude oil prices that surged
above the US$30 level last week the Dow
rocketed 228.67 pts to 16,620.66 pts on
Monday. However, the buying interest lost
momentum as gains were digested and the
key index fell 188.88 pts to 16,431.78 pts
on Tuesday, led by profit taking activities
among banking and technology shares like
Wells Fargo & Co. and Bank of America
Corp. Nevertheless, the Dow managed to
reverse its losses as bargain hunting
activities emerged; the key index rose 53.21
pts and 212.30 pts to 16,484.99 pts and
16,679.29 pts over the next two trading
days respectively. Despite the Dow ended
lower at 16,639.97 pts (-57.32 pts) on
Friday, the key index still gained 247.98 pts
on a W.o.W basis.
Meanwhile, share prices on Bursa Malaysia
saw a downward trend, accompanied by
lacklustre volumes last week amid profit

taking activities on the back of weaker-thanexpected corporate earnings. The FBM

KLCI trended mixed at the start of the week
and ended at 1,674.59 pts (-0.29 pts) and
1,677.28 pts on Monday and Tuesday
respectively. As the key index retested the
1,686 level three times over the past two
weeks, strong selling pressure sent the
FBM KLCI lower to end at 1,664.17 pts (13.11 pts) and 1,658.16 pts (-6.01 pts) over
the next two trading days respectively, led
by selling on selected oil & gas and telco
heavyweights such as Petronas Chemical (3.1% W.o.W) and Axiata (-3.3% W.o.W).
Last week, the FBM KLCI lost 11.44 pts.
FBM KLCI Weekly Technical Readings

The weekly MACD Histogram extended

another green bar, in tandem with the
weekly MACD Line, which is approaching
zero. The weekly RSI is hovering above 50.
Meanwhile, the daily MACD Indicator
trended flat last week. The daily RSI is
hovering near the 50 level.

Your Gain, Our Aim

Disclaimer
This report is prepared exclusively for Malacca Securities Sdn Bhds (MSSB) clients and is not intended to be distributed to any other party in any form or
manner. All information, assumptions, estimates and opinions contained in this report is based on available data and the information is believed to be reliable at
the time of writing. MSSB and/or its associated persons does not warrant, represent and/or guarantee the accuracy of any opinions and information herein in
any manner whatsoever and no reliance upon the report and/or any parts thereof by anyone shall give rise to any claim whatsoever against MSSB. This report
is for information purposes only and shall not be construed as an offer, invitation or solicitation to buy or sell the securities or any related investment or financial
instruments mentioned in this report. MSSB and/or its associated persons may from time to time have an interest in the securities mentioned herein.

FBM KLCI Technical Outlook

M onda y , 2 9 Fe b, 2 0 1 6

PROPERTIES
Te c hnic a l Re a dings
EMA 9 > EMA20
Short term uptrend phase

MACD Line approaching zero

Momentum is picking up

RSI above 50
Momentum is positive

Continued
FBM KLCI Support & Resistance

Sector focus

The FBM KLCI trended mixed and flirted

with the 1,660 level as most of index
heavyweights were beaten down as market
sentiments turned cautious. With both
indicators suggesting a mildly positive
signal, the FBM KLCI may trend sideways
in the upcoming week around the range of
the 1,630-1,700 levels. However, if the key
index falls below the support of 1,630, next
support will be pegged around 1,600.

The Properties index could be forming a

Breakout-Pullback-Continuation
pattern
above the 1,116 level as the index
rebounded off the EMA9 level. The MACD
Line is approaching zero. Resistance will be
envisaged around the 1,138-1,148 levels.
Support will be set around the 1,116 level.

Moving Forward

Wall Street may see further buying interest

as most energy shares could stay in focus
amid the recovery in WTI crude oil prices
above the US$30 per barrel mark. The Dow
and the S&P 500 are likely to trend higher
towards the 17,000 and 2,000 psychological
levels respectively. Share prices on the
bursa Malaysia, however, could extend its
consolidation phase due to lack of fresh
catalyst and softer reported corporate
earnings.
Website
http://www.mplusonline.com.my

Stocks to focus

UEMS Price formed a Breakout-PullbackContinuation pattern above the RM1.00

level. The MACD Line is holding above the
zero level, while the RSI is above 50. Price
may recover to the price target of RM1.05RM1.11 levels. Support will be set around
the RM1.00 level.
IGB Price experienced a breakout above
the RM2.33 level with mild volumes. The
MACD Indicator expanded positively above
zero, but the RSI is overbought. Price may
retest the resistance of the RM2.45 and
RM2.61 levels after a short consolidation.
Support will be pegged around RM2.33.

Your Gain, Our Aim

Disclaimer
This report is prepared exclusively for Malacca Securities Sdn Bhds (MSSB) clients and is not intended to be distributed to any other party in any form or
manner. All information, assumptions, estimates and opinions contained in this report is based on available data and the information is believed to be reliable at
the time of writing. MSSB and/or its associated persons does not warrant, represent and/or guarantee the accuracy of any opinions and information herein in
any manner whatsoever and no reliance upon the report and/or any parts thereof by anyone shall give rise to any claim whatsoever against MSSB. This report
is for information purposes only and shall not be construed as an offer, invitation or solicitation to buy or sell the securities or any related investment or financial
instruments mentioned in this report. MSSB and/or its associated persons may from time to time have an interest in the securities mentioned herein.