Stocks slipped on Wednesday, copying regional weakness as investors pared back expectations for the pace and scale of interest rate cuts by the US Federal Reserve this year. The FBM KLCI fell 2.04 points to end at 1,529.33, off an early low of 1,521.79 and high of 1,530.95, as losers edged gainers 503 to 387 on total turnover of 2.8bn shares worth RM1.92bn.
The overnight rebound on Wall Street should revive the local market today, but undertone remains cautious as uncertainty over interest rate outlook persist. Key index supports cushioning downside remains at 1,497, 1,479 and 1,461, the respective rising 30-day, 50- day and 100-day moving averages, while immediate overhead resistance stays at 1,550, with stronger upside hurdles at 1,580 and 1,618.
Investors should look to bargain on weakness Aemulus for recovery upside to the upper Bollinger band (34sen), with further strength to aim for the 76.4%FR (39sen) and 61.8%FR (45sen) ahead. Key chart supports are at the lower Bollinger band (28sen) and 25sen. Similarly, any dips on Unisem should attract buyers ahead of recovery towards the 61.8%FR (RM3.40) and 76.4%FR (RM3.74) going forward, while crucial supports are at the 38.2%FR (RM2.80) and 23.6%FR (RM2.52).
Source: TA Research - 15 Feb 2024
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PERDANA2024-12-12
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TOPGLOV2024-12-10
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UEMS2024-12-06
DAYANG2024-12-06
IHH2024-12-06
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IHH2024-12-05
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PLB2024-12-05
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TOPGLOV2024-12-05
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UEMS2024-12-05
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IHH2024-12-04
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TOPGLOV2024-12-04
TOPGLOV2024-12-04
UEMS2024-12-03
DAYANG2024-12-03
IHH2024-12-03
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MHB2024-12-02
IHH2024-12-02
IHH2024-12-02
IHHCreated by sectoranalyst | Dec 12, 2024
Created by sectoranalyst | Dec 12, 2024
Created by sectoranalyst | Dec 12, 2024