Positive perspective remains intact for FBM Small Cap Index, says RHB Retail Research

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KUALA LUMPUR (Dec 26): RHB Retail Research said the positive perspective remains intact for the FBM Small Cap Index (FBMSC).

In its technical analyser note today, the research house said the two-week upside development remains in play.

It said that last Friday, the FBMSC ended at 16,788.70 points to register a 21.31-point increase.

RHB Retail Research said it left a "Doji" candlestick pattern after oscillating between a low of 16,732.90 points and high of 16,811.86 points.

"This shows that neither the bulls nor the bears were able to take firm control at the end of the day.

"In the daily chart, we see the index is currently pointing towards the upside. Overall, the 2-week bullish bias continues to exert itself," it said.