Last week's volatile trading sessions, which saw the FBM KLCI slumping from a nine-month high to a one-month low, did not augur well for investor confidence, with the weak follow-through buying momentum and negative market breadth also discouraging market participants. In the meantime, risk sentiment should also suffer given the still volatile geopolitical situation in the Middle East, which forced many key countries to choose sides, adversely affecting the global economy due to the threat of trade sanctions. Renewed concerns that US interest rates may need to stay higher for longer, as suggested by the Federal Reserve Chairman, due to stubbornly high inflationary pressures, will also act to dampen market sentiment for the immediate term.
On the index, immediate support is hence revised lower to 1,430, with 1,400/1,390, and the end June low of 1,370 acts as crucial support. Immediate resistance is retained at 1,465/1,470, with the 1,490/1,500 area acting as a tougher upside hurdle.
On stocks to look at this coming week, key banking, construction, and oil & gas lower liners such as AMBank, CIMB, Gamuda, Sunway Construction, Bumi Armada and Hibiscus Petroleum should attract investors looking to bargain hunt on weakness for recovery upside.
Source: TA Research - 14 Nov 2023
Chart | Stock Name | Last | Change | Volume |
---|
2024-12-07
SIME2024-12-06
SIME2024-12-06
SIME2024-12-06
SIMEPROP2024-12-06
SIMEPROP2024-12-06
SIMEPROP2024-12-06
SIMEPROP2024-12-06
SIMEPROP2024-12-06
SIMEPROP2024-12-05
SIME2024-12-05
SIME2024-12-05
SIME2024-12-05
SIME2024-12-05
SIME2024-12-05
SIME2024-12-05
SIMEPROP2024-12-05
SIMEPROP2024-12-05
SIMEPROP2024-12-05
SIMEPROP2024-12-04
MAXIS2024-12-04
MAXIS2024-12-04
MAXIS2024-12-04
SIMEPROP2024-12-03
SIME2024-12-03
SIME2024-12-03
SIME2024-12-03
SIME2024-12-03
SIME2024-12-03
SIME2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-03
SIMEPROP2024-12-02
HEXIND2024-12-02
HEXIND2024-12-02
IBRACO2024-12-02
MAXIS2024-12-02
MAXIS2024-12-02
MAXIS2024-12-02
MAXIS2024-12-02
SIMEPROP2024-12-02
SIMEPROP2024-12-02
SIMEPROP2024-11-29
AEONCR2024-11-29
MAXIS2024-11-29
MAXIS2024-11-29
MAXIS2024-11-29
SANICHI2024-11-29
SIME2024-11-29
SIME2024-11-29
SIME2024-11-29
SIME2024-11-29
SIME2024-11-29
SIME2024-11-29
SIMEPROP2024-11-29
SIMEPROP2024-11-28
IBRACO2024-11-28
MAXIS2024-11-28
SIME2024-11-28
SIME2024-11-28
SIMEPROP2024-11-28
SIMEPROP2024-11-28
SIMEPROP2024-11-28
TCHONG2024-11-28
TCHONG2024-11-27
HEXIND2024-11-27
HEXIND2024-11-27
HEXIND2024-11-27
HEXIND2024-11-27
HEXIND2024-11-27
HEXIND2024-11-27
MAXIS2024-11-27
SIMEPROP2024-11-27
SIMEPROP2024-11-27
SIMEPROP2024-11-27
TCHONG2024-11-27
TCHONG2024-11-27
TCHONG2024-11-27
TCHONG2024-11-27
TCHONG2024-11-27
TCHONG2024-11-26
MAXIS2024-11-26
SIME2024-11-26
SIME2024-11-26
SIMEPROPCreated by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 03, 2024
Created by sectoranalyst | Dec 03, 2024