Blue chips ended lower Tuesday on profit-taking due to overbought momentum and caution over the path ahead for US interest rates given the stubbornly high inflation and growth numbers. The FBM KLCI fell 2.45 points to settle at 1,615.82, off an early high of 1,622.93 and low of 1,612.96, as losers beat gainers 824 to 352 on lower turnover of 4.86bn shares worth RM3.79bn.
The local market should extend sideways trade with downward bias as investors assess inflation data from across the region and Europe for cues on the likely interest rate direction towards the year-end. Immediate index resistance stays at 1,640, with 1,660 and then 1,680 as tougher upside hurdles ahead. Immediate uptrend support remains at 1,600, with 1,594, 1,577 and 1,547, the respective rising 30-day, 50-day and 100-day moving averages, acting as stronger supports.
Sime Darby need to overcome the 138.2%FP (RM3.00) decisively to extend uptrend and aim for the 150%FP (RM3.09) and 161.8%FP (RM3.18) ahead, while uptrend support from the rising 50-day ma (RM2.76) cushion downside. Tenaga will need to sustain breakout above the 161.8%FP (RM13.53) to enhance upside momentum and target the 176.4%FP (RM13.95) and 200%FP (RM14.61) going forward, with uptrend support from the rising 30-day ma (RM12.26) and 50-day ma (RM11.96) capping downside risk.
Source: TA Research - 29 May 2024
Chart | Stock Name | Last | Change | Volume |
---|
2024-11-05
AIRPORT2024-11-05
AIRPORT2024-11-05
AIRPORT2024-11-05
ATECH2024-11-05
ATECH2024-11-05
BURSA2024-11-05
BURSA2024-11-05
IGBB2024-11-05
IHH2024-11-05
IHH2024-11-05
IHH2024-11-05
IHH2024-11-05
IHH2024-11-05
IHH2024-11-05
KENANGA2024-11-05
KENANGA2024-11-05
STAR2024-11-05
STAR2024-11-05
STAR2024-11-05
STAR2024-11-05
STAR2024-11-05
UUE2024-11-05
YTLPOWR2024-11-04
AGES2024-11-04
AIRPORT2024-11-04
BURSA2024-11-04
BURSA2024-11-04
E&O2024-11-04
IHH2024-11-04
IHH2024-11-04
IHH2024-11-04
IHH2024-11-04
IHH2024-11-04
IHH2024-11-04
IHH2024-11-04
RANHILL2024-11-04
SIME2024-11-04
SIME2024-11-04
YTLPOWR2024-11-04
YTLPOWR2024-11-01
ATECH2024-11-01
ATECH2024-11-01
BURSA2024-11-01
BURSA2024-11-01
BURSA2024-11-01
BURSA2024-11-01
BURSA2024-11-01
BURSA2024-11-01
E&O2024-11-01
E&O2024-11-01
IHH2024-11-01
IHH2024-11-01
IHH2024-11-01
IHH2024-11-01
SIME2024-11-01
SIME2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-10-31
YTLPOWR2024-10-31
YTLPOWR2024-10-30
ATECH2024-10-30
ATECH2024-10-30
ATECH2024-10-30
ATECH2024-10-30
BURSA2024-10-30
BURSA2024-10-30
BURSA2024-10-30
E&O2024-10-30
E&O2024-10-30
IHH2024-10-30
IHH2024-10-30
IHH2024-10-30
YTLPOWR2024-10-30
YTLPOWR2024-10-29
AGES2024-10-29
ATECH2024-10-29
ATECH2024-10-29
ATECH2024-10-29
ATECH2024-10-29
BURSA2024-10-29
BURSA2024-10-29
BURSA2024-10-29
IGBB2024-10-29
IGBB2024-10-29
IHH2024-10-29
IHH2024-10-29
IHH2024-10-29
IHH2024-10-29
IHH2024-10-29
KENANGA2024-10-29
SIME2024-10-29
WCT2024-10-29
WCT2024-10-29
YTLPOWR2024-10-29
YTLPOWR2024-10-28
ATECH2024-10-28
ATECH2024-10-28
ATECH2024-10-28
ATECH2024-10-28
BURSA2024-10-28
BURSA2024-10-28
BURSA2024-10-28
E&O2024-10-28
E&O2024-10-28
IHH2024-10-28
IHH2024-10-28
IHH2024-10-28
SIME2024-10-28
SIME2024-10-25
ATECH2024-10-25
E&O2024-10-25
IHH2024-10-25
SIME2024-10-25
YTLPOWR2024-10-25
YTLPOWRCreated by sectoranalyst | Nov 05, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024