The local market fell back into profit-taking consolidation mode Wednesday, as investors turned cautious after the recent FOMC meeting minutes imply continuing vigilance in keeping interest rates high to tame inflation. The FBM KLCI shed 7.51 points to close at 1,455.89, off an opening high of 1,460.59 and low of 1,454.52, as losers beat gainers 530 to 374 on slower trade totalling 2.97bn shares worth RM2.04bn.
Stocks should continue to trade sideways pending fresh local market leads, while rubber glove and oil & gas related stocks continue to attract rotational buying interest amid positive news flow. Immediate index resistance is at 1,465/1,470, with the 1,490/1,500 area acting as tougher upside hurdle, while immediate support stays at 1,450, with 1,430, and then 1,400/1,390 as stronger chart supports.
Velesto will be attractive to bargain on weakness for rebound upside to the 50-day ma (25sen), with a confirmed breakout to aim for the Feb high (28.5sen) and 32sen going forward, while downside should be cushioned by the 61.8%FR (20sen). Wasco also looks attractive to bargain on weakness, while a convincing breakout above the 123.6%FP (RM1.03) should target the 138.2%FP (RM1.09) and 150%FP (RM1.14) ahead, with the 200-day ma (90sen) limiting downside risk.
Source: TA Research - 23 Nov 2023
Chart | Stock Name | Last | Change | Volume |
---|
2024-11-05
AMBANK2024-11-05
AMBANK2024-11-05
AMBANK2024-11-05
GENP2024-11-05
GENP2024-11-05
HIBISCS2024-11-05
INARI2024-11-05
INARI2024-11-05
INARI2024-11-05
KLK2024-11-05
KLK2024-11-05
KLK2024-11-05
KLK2024-11-05
MAYBANK2024-11-05
MAYBANK2024-11-05
MAYBANK2024-11-05
MAYBANK2024-11-05
MAYBANK2024-11-05
MAYBANK2024-11-05
MISC2024-11-05
MISC2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-05
SUNWAY2024-11-04
AMBANK2024-11-04
AMBANK2024-11-04
AMBANK2024-11-04
AMBANK2024-11-04
GENP2024-11-04
INARI2024-11-04
INARI2024-11-04
KLK2024-11-04
KLK2024-11-04
MAYBANK2024-11-04
MAYBANK2024-11-04
MAYBANK2024-11-04
MAYBANK2024-11-04
MAYBANK2024-11-04
MAYBANK2024-11-04
MISC2024-11-04
MISC2024-11-04
SAM2024-11-04
SUNWAY2024-11-04
SUNWAY2024-11-04
SUNWAY2024-11-01
AMBANK2024-11-01
AMBANK2024-11-01
AMBANK2024-11-01
AMBANK2024-11-01
GENP2024-11-01
GENP2024-11-01
INARI2024-11-01
INARI2024-11-01
KLK2024-11-01
KLK2024-11-01
KLK2024-11-01
KLK2024-11-01
KLK2024-11-01
KLK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MAYBANK2024-11-01
MISC2024-11-01
MISC2024-11-01
MISC2024-11-01
SUNWAY2024-10-31
MAYBANK2024-10-30
AMBANK2024-10-30
GENP2024-10-30
INARI2024-10-30
INARI2024-10-30
INARI2024-10-30
KLK2024-10-30
KLK2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MAYBANK2024-10-30
MISC2024-10-30
MISC2024-10-30
MISC2024-10-30
SUNWAY2024-10-30
SUNWAY2024-10-30
TIMECOM2024-10-29
AMBANK2024-10-29
GENP2024-10-29
HIBISCS2024-10-29
INARI2024-10-29
INARI2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
KLK2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MAYBANK2024-10-29
MISC2024-10-29
MISC2024-10-29
SUNWAY2024-10-29
SUNWAY2024-10-28
AMBANK2024-10-28
GENP2024-10-28
HIBISCS2024-10-28
INARI2024-10-28
INARI2024-10-28
MAYBANK2024-10-28
MAYBANK2024-10-28
MISC2024-10-28
MISC2024-10-28
SUNWAY2024-10-28
SUNWAY2024-10-28
SUNWAY2024-10-25
INARI2024-10-25
INARI2024-10-25
KLK2024-10-25
KLK2024-10-25
KLKCreated by sectoranalyst | Nov 05, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024