TECHNICAL INDICATIONS
Support : 1543, 1525 Resistance : 1580
Bias : Downtrend
Technically, the neutral bias is still unfolding, albeit some weakness signs emerging, but the FBM KLCI should be confined between the level of 1550 and 1575. For now, the immediate resistance remained at 1580. The 1543 level has now become its primary support.
COMMENTARY
Still going nowhere, FBM KLCI slips slightly … The key index’s nonchalant trend continues as index heavyweights lost ground. However, there was no lack of interest as lower liners garnered renewed trading interest, particularly those listed on ACE market. Ingenuity Solutions lead the most active list while newly listed Catcha Media also garnered active interest.
More of the same- flat trend … Yet again, the market went nowhere, leaving the indifference to take a grip. While index linked counters will keep the index rangebound, thematic and rotational plays should still be a feature.
Research by Mercury Securities
