TECHNICAL AND FUNDAMENTAL ANALYSIS

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FBMKLCI Weekly Report - Apr 21, 2019

April 21, 2019

Technical Analysis

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- FBMKLCI opened higher compared to the last trading closed on Apr 12, 2019.

- However, FBMKLCI unable to sustain upward trend and closed lower in next 3 trading days due to lack of investor confidence after FTSE Russell announcement.

- FTSE Russell has placed Malaysia on the fixed income watch list for at least six months, following the completion of its first fixed-income country classification review. If FTSE Russell downgrades Malaysia from Mart 2 to Mark 1,  it would render Malaysia ineligible for inclusion in the World Global Bank Index (WGBI). Source: https://www.ftserussell.com/files/press-releases/ftse-russell-announces-results-first-fixed-income-country-classification-review

- FBKLCI drop and challenge support S1, 1626.44 level but it closed above it at 1619.73 at the end of the trading day on Apr 18, 2019.

- Thus, FBKLCI still in downward wave 5 and no signal of re-bounce currently.

- MACD signal and RSI showed bullish and oversold status respectively.

- Resistance R2: 1709.17

- Resistance R1: 1654.26

- Support S1: 1626.44

- Support S2: 1618.32

 

Economic Analysis

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- No economic indicator has been released in previous week - Frm Apr 15, 2019 to Apr 19, 2019.

 

 

 

 

 

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