KLCI seen slipping to key 1,700 early Friday – Stock Tips in Malaysia

KUALA LUMPUR: Blue chips slipped in early Friday exchange, with the FBM KLCI making a beeline for the key 1,700 level on benefit taking as financial specialists processed the most recent group of blended corporate outcomes. -Stock Tips in Malaysia

Offers and the call warrants of ease transporter AirAsia was in center after the arrival of its outcomes. – Stock Tips in Malaysia

At 9.30am, the KLCI was down 2.37 focuses or 0.14% to 1,702.11. Turnover was 475.21 million shares esteemed at RM219.30mil. There were 203 gainers, 264 washouts and 249 counters unaltered.

Kenanga Investment Bank said in general, the KLCI stays in a positive medium-longer term drift.

Be that as it may,

the KLCI has all the earmarks of being balanced for a close term benefit taking after quickly scoring a response high of 1,720 prior in the week.

“See that yesterday’s dark bodied bar reflect maintained shortcoming for the duration of the day, while the MACD has quite recently crossed underneath its flag line. From here, we see the likelihood of the KLCI pulling back towards 1695/1700 (S1) before gathering some support.

“Coming up short which,

the following bolster level is situated at 1,680 (S2). Overhead resistance meanwhile is situated at 1,710 (R1) and 1,720 (R2),” it said.

Reuters detailed US oil costs fell on Friday after government information discharged late on Thursday demonstrated stockpiles climbed a week ago for a seventh straight week, despite the fact that misfortunes were quieted as stock development was well beneath desires. – Stock Tips in Malaysia

US West Texas Intermediate fell 13 pennies to US$54.32 a barrel by 0048 GMT, having quit for the day pennies in the past session.

Brent rough was exchanging down 13 pennies additionally at US$56.45. The agreement rose 74 pennies in the past session to settle at US$56.58.

Our recommendation for KLSE investors.

  1. DNEX
  2. PETRONM
  3. VIVOCOM
  4. CENSOF
  5. LIONIND

KLSE INTRADAY SIGNALS: BUY LIONIND AT 0.625 TARGET 0.650, 0.675 SL 0.595 

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