As shown on the chart above, the Bollinger Bands expanded 10%, with the KLCI still above the Bollinger Middle Band, thus the immediate technical outlook for the KLCI is still bullish biased. If the Bollinger Bands should begin to contract or the expansion rate to reduce, it would be a signal suggesting that the KLCI is consolidating.

As indicated by B, total market volume increased 11.1%, with volume still above the 40-day VMA level. Overall market is actively participated, and therefore, provided that the volume is firmly above the 40-day VMA level, the market sentiment as a whole is still positive.

As indicated by C, the MACD histogram is still above the zero level, suggesting that the bullish movement is still dominant. If the MACD histogram should begin to retreat and form a Rounding Top, it would be a signal suggesting a weakening movement for the FBMACE.

The KLCI gained consecutively for 8 trading days while still has not corrected, despite over-heated signal is seen in the Stochastic. Nevertheless, provided that the KLCI is still above the 14, 21, 31 EMA, the technical outlook as a whole is still bullish biased.

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