Blue chips traded sideways on Thursday, with more investors sidelined and awaiting stronger cues from major global central bankers on their monetary policy positions. The FBM KLCI eased 1.49 points to end at 1,590.38, off an opening low of 1,579.69 and high of 1,593.24, as losers edged gainers 652 to 444 on lower turnover of 4.32bn shares worth RM3.1bn.
Range bound trade should persist ahead of the weekend, as investors refrain from committing fresh positions until clearer clues emerge on the global inflation and economic growth momentum. Immediate index supports are at 1,550 and recent low of 1,529, then 1,520 and 1,500, while immediate resistance will be at 1,600, 1,620 and then 1,638.
Short-term technical momentum buy signals imply further near-term upside bias for DNEX towards the 100-day ma (42sen), with a breakout to aim for the 23.6%FR (46sen) and 51sen ahead, while downside is cushioned by key chart supports at 34sen/32sen. Likewise, Inari should appreciate towards the 123.6%FP (RM3.60), with tougher resistance at the 138.2%FP (RM3.78) and 150%FP (RM3.92), while key supports at RM3.30 and recent low of RM3.15 limit downside risk.
Source: TA Research - 9 Aug 2024
Chart | Stock Name | Last | Change | Volume |
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2024-11-06
CEB2024-11-06
DNEX2024-11-06
TSH2024-11-05
ATAIMS2024-11-05
INARI2024-11-05
INARI2024-11-05
INARI2024-11-05
SUNREIT2024-11-05
TSH2024-11-05
YTLPOWR2024-11-04
CEB2024-11-04
E&O2024-11-04
FGV2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
IBHD2024-11-04
INARI2024-11-04
INARI2024-11-04
RANHILL2024-11-04
SEAL2024-11-04
YTLPOWR2024-11-04
YTLPOWR2024-11-01
E&O2024-11-01
E&O2024-11-01
FGV2024-11-01
FGV2024-11-01
FGV2024-11-01
GESHEN2024-11-01
INARI2024-11-01
INARI2024-11-01
SUNREIT2024-11-01
SUNREIT2024-11-01
SUNREIT2024-11-01
SUNREIT2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-11-01
YTLPOWR2024-10-31
FGV2024-10-31
YTLPOWR2024-10-31
YTLPOWR2024-10-30
E&O2024-10-30
E&O2024-10-30
FGV2024-10-30
IBHD2024-10-30
IBHD2024-10-30
IBHD2024-10-30
IBHD2024-10-30
IBHD2024-10-30
IBHD2024-10-30
INARI2024-10-30
INARI2024-10-30
INARI2024-10-30
MKLAND2024-10-30
SEAL2024-10-30
SUNREIT2024-10-30
YTLPOWR2024-10-30
YTLPOWR2024-10-29
IBHD2024-10-29
IBHD2024-10-29
INARI2024-10-29
INARI2024-10-29
MKLAND2024-10-29
SEAL2024-10-29
SUNREIT2024-10-29
YTLPOWR2024-10-29
YTLPOWR2024-10-28
E&O2024-10-28
E&O2024-10-28
INARI2024-10-28
INARICreated by sectoranalyst | Nov 05, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024
Created by sectoranalyst | Nov 04, 2024