EMA50 has gone below EMA150 and EMA200.
If EMA150 followed to go below EMA200, then it will be the start of a bear market for KLSE.
It go to test the 1613 support line.
RSI is oversold at ~22.
MACD is still bearish.
Seems like the sold off since the election 9 May 2018 and the pessimism from US-China Trade War has caused a huge sell off.
From Bursa Malaysia:
http://www.bursamalaysia.com/market/
Daily Market Commentary (Securities)
6 July 2018
The FBM KLCI index lost 26.79 points or 1.58% on Friday. The Finance Index fell 1.56% to 16340.9 points, the Properties Index dropped 0.89% to 1009.17 points and the Plantation Index down 1.08% to 7421.38 points. The market traded within a range of 30.95 points between an intra-day high of 1694.81 and a low of 1663.86 during the session.
Actively traded stocks include HSI-H4B, SAPNRG, HSI-H4O, HSI-C3I, HSI-C3O, BARAKAH, TDM, NOVAMSC, ICON and HSI-C3H. Trading volume decreased to 2017.05 mil shares worth RM2001.00 mil as compared to Thursday’s 2172.08 mil shares worth RM1446.24 mil.
Leading Movers were DIALOG (+3 sen to RM3.15), DIGI (+1 sen to RM4.18), MAHB (+1 sen to RM8.77), KLK (+0 sen to RM24.24) and PETDAG (+0 sen to RM24.80). Lagging Movers were AXIATA (-26 sen to RM3.85), CIMB (-22 sen to RM5.31), RHBBANK (-18 sen to RM5.17), MAXIS (-18 sen to RM5.21) and PETGAS (-58 sen to RM16.92). Market breadth was negative with 286 gainers as compared to 539 losers.
The KLCI slid and closed lower at 1663.86 points despite overnight gains in US market. The performance of our local bourse was bogged down by selling interest in heavy weight counters such as Axiata, CIMB and Telekom Malaysia.
Source: JF Apex Securities Bhd
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