Given the weak rebound attempt subsequent to a mid-week selloff on the FBM KLCI last week, blue chips are likely to extend sideways consolidation, despite the stronger performance seen in external markets. Still, rotational plays on lower liners, specifically in the construction, property and oil & gas sectors should highlight trading as blue chips consolidate, while the local market await more concrete catalysts to lift the broader market to higher ground.
Stronger index supports cushioning downside will be at 1,524 and 1,501, the respective rising 50-day and 100-day moving averages, with better support seen at 1,480. Immediate resistance remains at the recent 21- month high of 1,559, followed by 1,580, with stronger upside hurdle seen at the 1,600 level.
As for stocks picks this week, selected telco, oil & gas, property and construction related counters such as Axiata, CelcomDigi, Bumi Armada, Velesto, Ekovest, IWCity, MRCB and UEM Sunrise should continue to attract bargain hunters anticipating rotational and situational plays ahead.
Source: TA Research - 25 Mar 2024
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2024-12-07
ARMADA2024-12-07
VELESTO2024-12-06
ARMADA2024-12-06
AXIATA2024-12-06
AXIATA2024-12-06
CDB2024-12-06
CDB2024-12-06
ECOFIRS2024-12-06
EKOVEST2024-12-06
HAWK2024-12-06
HAWK2024-12-06
IWCITY2024-12-06
KERJAYA2024-12-06
MRCB2024-12-06
PETGAS2024-12-06
PETGAS2024-12-06
PETGAS2024-12-06
UEMS2024-12-06
VELESTO2024-12-06
YINSON2024-12-06
YINSON2024-12-05
CDB2024-12-05
HAWK2024-12-05
MNRB2024-12-05
PETGAS2024-12-05
PETGAS2024-12-05
UEMS2024-12-05
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YINSON2024-12-05
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CDB2024-12-04
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KERJAYA2024-12-04
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PETGAS2024-12-04
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UEMS2024-12-04
YINSON2024-12-03
CDB2024-12-03
PETGAS2024-12-03
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VELESTO2024-12-03
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KERJAYA2024-12-02
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VELESTO2024-12-02
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ECOFIRS2024-11-29
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KERJAYA2024-11-29
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YINSON2024-11-29
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AXIATA2024-11-28
CDB2024-11-28
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MRCB2024-11-28
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MRCB2024-11-28
MRCB2024-11-28
PETGAS2024-11-28
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YINSON2024-11-28
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CDB2024-11-27
KERJAYA2024-11-27
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KERJAYA2024-11-27
MRCB2024-11-27
PETGAS2024-11-27
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PETGAS2024-11-27
PETGAS2024-11-27
UEMS2024-11-27
UEMS2024-11-27
YINSON2024-11-27
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ARMADA2024-11-26
ARMADA2024-11-26
ARMADA2024-11-26
ARMADA2024-11-26
KERJAYA2024-11-26
KERJAYA2024-11-26
PETGAS2024-11-26
PETGAS2024-11-26
YINSONCreated by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 03, 2024
Created by sectoranalyst | Dec 03, 2024