Blue chips stayed range bound on Thursday, as investors contemplate decisions from global central bankers in managing interest rates amid easing inflationary pressures. The FBM KLCI eased 1.32 points to close at 1,624.25, off an early high of 1,626.35 and low of 1,621.44, as losers beat gainers 654 to 442 on cautious trade totaling 3.51bn shares worth RM2.71bn.
The local market should trade sideways to lower ahead of the weekend, as investors await further leads from global economies on growth momentum, inflation and monetary policy. index supports are at 1,616, 1,608 and 1,586, the respective 30-day, 50-day and 100-day moving average levels, while immediate resistance remains at the recent high of 1,638, with 1,640 and 1,660 as tougher upside hurdles.
Further weakness on Ekovest is likely to attract buyers ahead of oversold rebound towards the 50%FR (49sen), with a breakout to aim for the 61.8%FR (52sen) and 76.4%FR (56sen) ahead, and key immediate supports at the 23.6%FR (41sen) and lower Bollinger band (40sen) capping downside. UEM Sunrise require renewed buying momentum to overcome the 138.2%FP (RM1.20) and target the 150%FP (RM1.29) and 161.8%FP (RM1.37) going forward, while the 200-day ma (99sen) provides crucial chart support.
Source: TA Research - 2 Aug 2024
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2024-09-09
CAPITALA2024-09-09
EKOVEST2024-09-09
PENTA2024-09-08
NOVAMSC2024-09-06
ASTRO2024-09-06
PENTA2024-09-05
ASTRO2024-09-05
PEKAT2024-09-05
UEMS2024-09-05
UEMS2024-09-04
UEMS2024-09-04
UEMS2024-09-03
CAPITALA2024-09-03
EKOVEST2024-09-03
EKOVEST2024-09-03
PEKAT2024-09-03
PEKAT2024-09-03
PEKAT2024-09-03
PEKAT2024-09-02
CAPITALA2024-09-02
CTOS2024-09-02
CTOS2024-09-02
CTOS2024-09-02
MNHLDG2024-09-02
PEKAT2024-09-02
PENTA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CAPITALA2024-08-30
CTOS2024-08-30
MNHLDG2024-08-30
MNHLDG2024-08-30
OMH2024-08-30
PENTA2024-08-29
AAX2024-08-29
AAX2024-08-29
AEONCR2024-08-29
CAPITALA2024-08-29
CTOS2024-08-29
MNHLDG2024-08-29
PENTA2024-08-27
CAPITALACreated by sectoranalyst | Sep 09, 2024
Created by sectoranalyst | Sep 09, 2024
Created by sectoranalyst | Sep 05, 2024
Created by sectoranalyst | Sep 05, 2024