KUALA LUMPUR (April 17): RHB Retail Research said market sentiment for the FBM Small Cap Index (FBMSC) remains bullish despite yesterday’s decline.
In a technical analyser today, the research house said the FBMSC ended its Monday session at 15,114.62 points and posted a 12.49-point loss.
It said that as a result, a black candle was formed after the index had hovered between a low of 15,081.26 points and high of 15,173.14 points.
“Despite yesterday’s decline, there is no change in our positive view – this is because we believe FBMSC was merely taking a breather.
“This is a normal reaction after the index gained more than 1,000 points in the prior seven sessions.
“At this juncture, market sentiment remains bullish,” it said.