Sideways rangebound trade persisted on Wednesday amid a lack of positive catalysts in the local market, as well as caution over the US elections and its possible impact on the next Federal Reserve rate cut. The FBM KLCI ended down 1.01 points at the day's low of 1,641.53, off an early high of 1,645.90, but gainers led losers 563 to 471 on better turnover of 3.24bn shares worth RM2.64bn.
Local market undertone should remain cautious, with prevailing uncertainties over the potential impact from the upcoming key general elections in Japan and the US dampening investor sentiment. Immediate index resistance remains at 1,660, followed by the recent highs of 1,675 and 1,684, and then 1,695, the Dec 2020 high, as tougher resistance levels. Immediate support will be the recent correction low of 1,625, with 1,620 and then 1,600 acting as stronger supports.
Any further dips on MRCB towards the 50.0%FR (51sen) chart support should attract bargain hunting interest for rebound upside towards the 76.4%FR (63sen), with tougher resistance coming from the 100%FP (74sen) and 123.6%FP (85sen). UEM Sunrise will need to climb above RM1.20 to reinforce upside momentum towards the 100%FP (RM1.28) and 123.6%FP (RM1.52) ahead, while the 61.8%FR (88sen) cushions downside risk.
Source: TA Research - 24 Oct 2024
Chart | Stock Name | Last | Change | Volume |
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2024-12-07
CAPITALA2024-12-07
KEYFIELD2024-12-07
PRTASCO2024-12-06
CLMT2024-12-06
KERJAYA2024-12-06
KEYFIELD2024-12-06
MRCB2024-12-06
MTEC2024-12-06
UEMS2024-12-05
CAPITALA2024-12-05
CAPITALA2024-12-05
CLMT2024-12-05
KEYFIELD2024-12-05
KEYFIELD2024-12-05
KEYFIELD2024-12-05
MNRB2024-12-05
UEMS2024-12-05
UEMS2024-12-05
UEMS2024-12-05
UEMS2024-12-04
CAPITALA2024-12-04
KERJAYA2024-12-04
KERJAYA2024-12-04
KERJAYA2024-12-04
UEMS2024-12-03
CLMT2024-12-03
CLMT2024-12-03
CLMT2024-12-03
CLMT2024-12-03
CLMT2024-12-03
CLMT2024-12-02
KERJAYA2024-12-02
KERJAYA2024-12-02
KERJAYA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
CAPITALA2024-11-29
KERJAYA2024-11-29
KERJAYA2024-11-29
KERJAYA2024-11-29
KERJAYA2024-11-29
PRTASCO2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KERJAYA2024-11-28
KEYFIELD2024-11-28
MRCB2024-11-28
MRCB2024-11-28
MRCB2024-11-28
MRCB2024-11-27
KERJAYA2024-11-27
KERJAYA2024-11-27
KERJAYA2024-11-27
KERJAYA2024-11-27
KERJAYA2024-11-27
MRCB2024-11-27
PANTECH2024-11-27
UEMS2024-11-27
UEMS2024-11-26
KERJAYA2024-11-26
KERJAYA2024-11-26
KEYFIELD2024-11-26
KEYFIELD2024-11-26
KEYFIELDCreated by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 03, 2024
Created by sectoranalyst | Dec 03, 2024