Best stock pick for klse – KLCI rallies past key 1,730 resistance level

best stock pick for klse

KUALA LUMPUR: Blue chips broadened their additions early Monday on maintained remote purchasing and pushed the FBM KLCI past the 1,730 resistance level, drove by Petronas Dagangan, ranches and banks. best stock pick for klse

At 9.26am (best stock pick for klse),

The KLCI was up 5.51 focuses or 0.32% to 1,732.87. Turnover was 4214.39 million shares esteemed at RM191.46mil. There were 273 gainers, 131 failures and 262 counters unaltered.

Outside assets were net purchasers on Monday at RM79mil while retail financial specialists were net dealers at RM40.4mil and nearby supports at RM38.6mil.

Kenanga Investment Bank Research said graph savvy,

The KLCI ruptured over the resistance-turned-bolster level of 1,720 (S1) on the back of high exchanging volume, drifting a hair inch over its key multi-month resistance level of 1,727 (R1). – best stock pick for klse

“The hidden list standpoint is still emphatically balanced,

as it is as yet exchanging close by its uptrend channel. In addition, MACD has arranged a bullish hybrid over its flag line, while RSI and Stochastic are depicting a positive attach to mirror the pilling purchasing force on the key record.

“All in, the KLCI looks ready to retest its prompt 1,727 (R1) level,

where a persuading break out would see it outfit towards its next resistance of 1,744 (R2). In the mean time, backings are currently topped at 1,720 (S2) and 1,710 (S2) assist underneath,” said the exploration house.

Petronas Dagangan rose 46 sen to RM24.86 while ranches PPB Group rose 34 sen to RM16.98 and KLKepong picked up 32 sen to RM24.70.

Hong Leong Bank rose 24 sen to RM13.68,

  1. KLCC added 18 sen to RM7.98, Hap Seng 11 sen to RM9.17 and Telekom 10 sen higher at RM6.25.
  2. KKB Engineering propelled nine sen to RM1.31 after it stowed two contracts worth RM100mil.
  3. Hovid ascended in dynamic exchange after its Chemor plant was permitted to resume operations on Tuesday.
  4. It rose 2.5 sen to 34 sen and Hovid-WB added 2.5 sen to 19 sen.

Customer stocks were among the washouts,

with Dutch Lady down 66 sen to RM55, BAT 22 sen bring down at RM49.28, Heineken eight sen lower and F&N six sent down at RM23.92.

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