FKLI traded 4.5 point lower to closed at 1261 perhaps reacting to a no big surprise budget announcement. Lots of comments heard on the street with some negative feedback on the real property gain tax and also in the hot topics will be the cancellation of credit cards due to the RM50 tax. Coming back to the hourly chart, FKLI slide below the mid Bollinger band = Negative market sentiment. Bollinger band width also just getting started to expand = potential downward movement. MACD Histrogram continue to drop in the negaticve zone = seller take charge of the current market. Overall market is still in correction phase after an exhausted climb.
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