Blue chips stayed range bound on Thursday, with profit-taking on recent gainers checking investor optimism over higher probability for the US Federal Reserve to begin cutting interest rates. The FBM KLCI ended flat at 1,612.94 (+0.59) after oscillating between opening high of 1,614.69 and low of 1,605.69, as losers swarmed gainers 768 to 285 on moderate turnover of 3.57bn shares worth RM2.77bn.
The local market should extend sideways trade as investors search for clearer local leads ahead of the weekend, while market undertone remains upbeat given recent tamer US inflation data which should encourage the US Federal Reserve to ease monetary policy. Immediate index resistance stays at 1,620, followed by 1,628 and then 1,638, while immediate supports are at 1,580, then 1,550 and recent low of 1,529, with 1,520 and 1,500 as stronger supports.
Genting Berhad need to overcome the 50%FR (RM4.52) constructively to sustain recovery momentum and aim for the 61.8%FR (RM4.66) and 76.4%FR (RM4.83) ahead, with downside cushioned by the recent steep selloff to the 23.6%FR (RM4.21). GENM will need confirmed breakout above the 50%FR (RM2.58) to target the 61.8%FR (RM2.65) and 76.4%FR (RM2.72) going forward, with the Oct 2023 pivot low (RM2.32) acting as crucial chart support to limit downside risk.
Source: TA Research - 16 Aug 2024
Chart | Stock Name | Last | Change | Volume |
---|
2024-12-07
99SMART2024-12-07
DAYANG2024-12-07
DIALOG2024-12-07
DIALOG2024-12-07
GENM2024-12-07
GENTING2024-12-07
KEYFIELD2024-12-06
99SMART2024-12-06
99SMART2024-12-06
99SMART2024-12-06
DAYANG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
DIALOG2024-12-06
ELKDESA2024-12-06
GENM2024-12-06
GENM2024-12-06
GENTING2024-12-06
GENTING2024-12-06
GENTING2024-12-06
KEYFIELD2024-12-06
SPSETIA2024-12-06
SPSETIA2024-12-06
SPSETIA2024-12-06
SPSETIA2024-12-06
SUNREIT2024-12-06
SUNREIT2024-12-06
SUNREIT2024-12-05
GENM2024-12-05
GENTING2024-12-05
KEYFIELD2024-12-05
KEYFIELD2024-12-05
KEYFIELD2024-12-05
SUNREIT2024-12-05
SUNREIT2024-12-05
SUNREIT2024-12-04
SPSETIA2024-12-03
99SMART2024-12-03
DIALOG2024-12-03
ELKDESA2024-12-03
GENM2024-12-03
GENM2024-12-03
GENTING2024-12-03
IJM2024-12-02
BHIC2024-12-02
DIALOG2024-12-02
DIALOG2024-12-02
SPSETIA2024-11-29
DIALOG2024-11-29
ELKDESA2024-11-29
ELKDESA2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENM2024-11-29
GENTING2024-11-29
GENTING2024-11-29
GENTING2024-11-29
GENTING2024-11-29
GENTING2024-11-29
GENTING2024-11-29
GENTING2024-11-29
IJM2024-11-29
SPSETIA2024-11-29
SPSETIA2024-11-28
BHIC2024-11-28
BHIC2024-11-28
BHIC2024-11-28
DIALOG2024-11-28
GENTING2024-11-28
GENTING2024-11-28
GENTING2024-11-28
GENTING2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
IJM2024-11-28
KEYFIELD2024-11-28
SPSETIA2024-11-28
SPSETIA2024-11-28
SPSETIA2024-11-28
SPSETIA2024-11-28
SPSETIA2024-11-27
DIALOG2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
IJM2024-11-27
SPSETIA2024-11-27
SPSETIA2024-11-27
SPSETIA2024-11-27
SPSETIA2024-11-27
SUNREIT2024-11-27
SUNREIT2024-11-26
DIALOG2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
IJM2024-11-26
KEYFIELD2024-11-26
KEYFIELD2024-11-26
KEYFIELD2024-11-26
KEYFIELD2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIA2024-11-26
SPSETIACreated by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 03, 2024
Created by sectoranalyst | Dec 03, 2024