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Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
15 Jul
08:31 am

The FBMKLCI continued to slide lower last Friday and penetrated the immediate support of 1,670.

The declining RSI suggests that selling pressure is set to continue in the immediate term. This bearish movement is also supported by a bearish crossover in the MACD and DMI. Thus, we continue to expect the index to retest the new immediate support of 1,661. Any violation of this level could extend the downtrend towards the next support of 1,652.

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12 Jul
08:38 am

The index continued to move within our expected range of 1,670 to 1,691 and is looking to test the immediate support of 1,670 in the near term.

This is supported by a downtick in the RSI which indicates an increase in selling pressure. For now, the FBMKLCI will stay above the trendline but a further slip may change the overall bullish outlook to a much more neutral bias.

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10 Jul
08:54 am

From a technical viewpoint, the FBMKLCI rebounded yesterday and formed a bullish candle, suggesting a potential reversal is on the cards.

This is consistent with an uptick and a bullish crossover in the RSI, suggesting a shift from selling to buying bias. Buying momentum has exceeded selling momentum, as shown by positive readings in the DMI and the MACD which are in a bullish crossover. If the index can maintain at above 1,670, we expect a bullish outlook in the short to medium term.

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15 Jul
08:31 am

US stocks were higher after the close on Friday, as gains in the Industrials, Basic Materials and Technology sectors led shares higher.

At the close in NYSE, the DJIA rose 0.90% to hit a new all time high, while the S&P 500 index gained 0.46%, and the NASDAQ Composite index climbed 0.59%.

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12 Jul
08:37 am

US stocks were mixed after the close on Thursday, as gains in the Industrials, Basic Materials and Consumer Services sectors led shares higher while losses in the Telecoms, Healthcare and Utilities sectors led shares lower.

At the close in NYSE, the DJIA gained 0.85% to hit a new all time high, while the S&P 500 index added 0.23%, and the NASDAQ Composite index lost 0.08%.

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10 Jul
08:53 am

US stocks were mixed after the close on Tuesday, as gains in the Technology, Financials and Consumer Services sectors led shares higher while losses in the Telecoms, Basic Materials and Consumer Goods sectors led shares lower.

At the close in NYSE, the DJIA fell 0.08%, while the S&P 500 index gained 0.12%, and the NASDAQ Composite index added 0.54%.

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