We believe the index would trade sideways in the near term. However, given the lack of domestic catalysts, external factors may have more weightage. Thus, the FBMKLCI may be vulnerable to negative sentiment in the region.
See MoreCurrently, selling momentum has not yet fully normalised with the RSI still trading below the 50pt threshold and the FBMKLCI is still vulnerable to a pullback. Nevertheless, the recent gains may give investors opportunity to seek short-term swing trading in potential stocks.
See MoreOverall, indicators are still negative as selling momentum remains strong. We remain bearish in our short- and medium-term outlook and expect the index to trade towards the next support levels at 1,477 and 1,450.
See MoreAt the close in NYSE, DJIA rose 0.52%, while the S&P 500 index added 1.19%, and the NASDAQ Composite index climbed 1.64%.
See MoreAt the close in NYSE, the DJIA lost 0.80%, while the S&P 500 index declined 0.30%, and the NASDAQ Composite index gained 0.64%.
See MoreAt the close in NYSE, the DJIA fell 2.29%, while the S&P 500 index declined 1.86%, and the NASDAQ Composite index fell 1.64%.
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