• Home

KLSE Bursa Malaysia Blog One-Stop

KLSE or Bursa Malaysia stock market latest blogs, KLCI and stocks news updates.

  • Home

Blogger's Blog Updates

  • Millionaire Trend Trader
    FBM KLCI - dragged lower by selling in TENAGA-led heavyweights - Stocks on Bursa Malaysia ended mixed Thursday with the benchmark FBMKLCI curtailing its recent rally as continued selling in selected heavyweights, led ...
    2 days ago
  • A PEGGY Method of Stock Market Share Fair Value Target Price IPO Dividend
    EPF Yearly Dividend - Source: The Star
    5 years ago
  • A PEGGY Method of Stock Market Share Fair Value Target Price IPO Dividend
    EPF Yearly Dividend - Source: The Star
    5 years ago
  • Blackspy fundamental
    Good Bye Maybank 2 Gold Cards~ - I used to use Maybank 2 Gold Cards for last few years. But after revise cashback policy. It is not as attractive as before. I do believe Public Bank Qua...
    5 years ago
  • Bursa Malaysia Stock Market Analysis Digest
    Technical - SKPRES (7155) - SKP RESOURCES BHD SKPRES has gapped- - up to close above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while...
    6 years ago
  • Bursa Malaysia Stocks and Shares Analysis
    FBM KLCI and Malaysia GE14 - Last Friday, PM Najib announced the dissolution of Parliament. In the past, polling was held 17-32 days after dissolution. We believe the first weekend of ...
    7 years ago
  • KLSE Bursa Malaysia Blog One-Stop
    Bursa Malaysia Shares: Stimulus Hopes and Oil Price to Underpin Sentiment - Bursa Malaysia shares managed to rebound from early decline in choppy trade Thursday, in line with most of the regional markets as weak trade data from Jap...
    8 years ago
Home » Bursa Malaysia Outlook , Bursa Malaysia Stock , FBM KLCI » FBM KLCI : Sell On Rally CIMB, Maybank, Telekom

FBM KLCI : Sell On Rally CIMB, Maybank, Telekom

  Joehari Matt    

Local stocks extended gains a fifth day on Thursday in line with regional markets which climbed on higher technology earnings and as concerns over the Euro-zone debt crisis eased.  The FBM KLCI added another 2.82 points to close at 1,346.92, off an early low of 1,344.27 and high of 1,348.09 on improving market breadth as gainers led losers 396 to 253 on better trade totaling 905.8mn shares worth RM1.04bn.

Break Above 1,349 to Test 1,354, Next Hurdle at 1,380
The better-than-expected 1Q GDP numbers and OPR rate hike by Bank Negara should provide a lift to banks and hence the KLCI, but the substantially higher-than-anticipated near RM1bn provisions by Sime Darby could cap gains today.  Immediate resistance is retained at 1,349, the 4 May pivot high, with a breakout to test 1,354, the 76.4%FR of the 1,525 to 801 sell-down, and next upside hurdle at 1,380.  Immediate support remained at 1,337, matching the 30-day moving average, then 1,330 and next at 1,320, representing the 23.6%FR and 50%FR of the rise from 1,224 low of 9 February and 1,292 low of 22 March to the 26-month high of 1,349.9 last week.

 

Sell on Rally CIMB, Maybank & TM
Note that blue chips such as CIMB, Maybank and TM are breaking out of recent sideways congestion trade with share  price closing just above the upper Bollinger bands, signaling bullish breakout potential.  However, we are revising our call to Sell on Rally since technical momentum will become overbought at the later stage of a breakout, such as the 14-day RSI approaching 80 and higher, hence investors should look forward to take profit or sell on rally toward higher upside targets.

 

by TA Securities

Blogger's Blog Updates

  • 1KLSE
    KPJ Healthcare Berhad - Announcement - Oct 07, 2021 Dear investors, The following announcements have been uploaded into KPJ Healthcare Berhad Investor Relations website. - Changes In S...
  • Talk About Share Market
    Be cautious of small caps run on Bursa - THE small to medium caps run on the stockmarket this round is not quite the same as previously when their share prices were ramped up as a result of specul...
  • davors investment setting
    Stock Track - 13 APRIL 2011 (BJTOTO) - Will have a look on BJTOTO for coming few days as rumors flow. KUALA LUMPUR, April 12 — Tycoon Vincent Tan is considering selling a 49 per cent stake in th...

News

Links

  • KLSE 2U
  • Bursa Malaysia My Blog
  • KLSE Online
  • Malaysia Bursa

About

KLSE Bursa

Web Links

  • Privacy Policy
Copyright © KLSE Bursa Malaysia Blog One-Stop. All rights reserved. Template by Romeltea Media | Published by FLYTemplate