Blue chips ended lower on Thursday, mirroring declines on Wall Street and the region as US treasury yields spike on concerns interest rate cuts may be more measured. The FBM KLCI fell 9.3 points to close at the day's low of 1,632.23, off an early high of 1,643.08, as losers swarmed gainers 712 to 312 on lower turnover of 2.65bn shares worth RM2.28bn.
The local stock market may stay under pressure ahead of the weekend, given the weaker regional sentiment amidst the stronger US currency as markets speculate on an increasingly likely return of Donald Trump to the White House. Immediate index support will be the recent correction low of 1,625, with 1,620 and then 1,600 acting as stronger supports. Immediate 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.
Genting Bhd. will need to overcome the 23.6%FR (RM4.15) to sustain further upside momentum towards the 38.2%FR (RM4.32) and 200-day ma (RM4.50), while important chart support is at RM3.80. Genting Malaysia need confirmed breakout above the 23.6%FR (RM2.38) to extend further recovery towards the 38.2%FR (RM2.46) and 50%FR (RM2.52) ahead, with support at RM2.20 capping downside risk.
Source: TA Research - 25 Oct 2024
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CAPITALA2024-12-08
GENM2024-12-08
GENTING2024-12-07
PAVREIT2024-12-06
DXN2024-12-06
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GENTING2024-12-06
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GENTING2024-12-06
NESTLE2024-12-06
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REXIT2024-12-06
VITROX2024-12-05
AAX2024-12-05
CAPITALA2024-12-05
CAPITALA2024-12-05
GENM2024-12-05
GENTING2024-12-05
NESTLE2024-12-05
PAVREIT2024-12-04
CAPITALA2024-12-04
NESTLE2024-12-03
GENM2024-12-03
GENM2024-12-03
GENTING2024-12-03
NESTLE2024-12-02
AAX2024-12-02
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AWC2024-12-02
DXN2024-12-02
NESTLE2024-12-02
PAVREIT2024-12-02
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VITROX2024-11-29
AAX2024-11-29
AAX2024-11-29
CAPITALA2024-11-29
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GENTING2024-11-29
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GENTING2024-11-29
NESTLE2024-11-29
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NESTLE2024-11-29
PAVREIT2024-11-29
SCBUILD2024-11-28
GENTING2024-11-28
GENTING2024-11-28
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GENTING2024-11-28
SCBUILD2024-11-27
NESTLE2024-11-27
PAVREIT2024-11-26
LUXCHEM2024-11-26
NESTLE2024-11-26
VITROXCreated by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 04, 2024
Created by sectoranalyst | Dec 03, 2024
Created by sectoranalyst | Dec 03, 2024