Friday 19 January 2018

To increase KLCI unity, support at 1,818

KUALA LUMPUR (Jan 19):

stock market, stock exchange

FBM KLCI has expanded its consolidation today and with the break in most global markets, with the immediate support of 1,818, there is hope of a low flow.

On Thursday, the depth of the world's stock exchanges declined, in which the record was halted after entering record, as Reuters, weighed on American equity due to a decline in the names of Boeing and Healthcare.


The Dow Jones Industrial Average hit 92.35 points, or 0.35 per cent, to 26,023.3, with S & P 500 3.38 points or 0.12 per cent down, 2,799.18 and NSEDC Composite gained 5.06 points or 0.07 per cent to 7,303.34.

In the evening edition on Thursday, Alliance DBS Research said that during the preceding days, the FBM KelCi had traded at a high level on January 18, because some market participants continued to play on the purchase side in the hope of a higher market.

However, it has been said that fresh interest in non-follow-up action was encouraged to chip through buying support in the area of ​​1,831.32.

It has been said that before the benchmark index reached 1,821.21 level, it closed at the close of the day's low of 1,821.60 (7.03 points or 0.38% below).

"In the broader market, the Nifty had a profit of 764 shares, which was at a high level with a decline in the low and 274 shares, indicating the market range of 0.35 that the bears were under better control."

Alliance DBS Research said that on January 18, the market was at a high level and the benchmark index was at a high of 1,831.32.

"The market was at the inauguration level of an excellence above 1831.24 at the 1,831 hurdle, but the benchmark index failed to maintain its position for a long time as market participants were not ready to play more aggressive purchasing games.

"It can be seen from the highest level of 1,831.32 of the day, after which it fell below 1,831 level.

"As soon as the purchase order was filled across 1831.32, aggressive vendors apparently took advantage of the high market to end their stock position because 1,831 were seen at the sale level."

Alliance DBS Research said that the market came under pressure to do business under 1821.21, when the number of ready vendors became more than the number of ready buyers.

In other words, it has been said that market participants had analyzed the risk and reward profile by looking at the prevailing market environment as they did not want to be caught in such situations where the reward is not big enough to confirm a purchase situation. Was there.

 After the closure of the research house on 18 January, it was said that 1,818 should be re-attempted with immediate assistance.

It said that the negative violation of 1,818 had sent the benchmark index to the later support level at 1,812.

"An analysis of overall market action on January 18 showed that purchasing power was weak compared to purchasing pressure.

Alliance DBS Research said, "Like, the probability of FBM KLCI will be at 1921.21 below the level of 1921.21."

Based on the corporate announcements and the flow of news, shares in focus tomorrow may include: Ata Global Group Bhd, Malaysian Chemical Company Bhd, SP Saitia Bhd, Sime Darby Bhd, Green Packet Bhd, Crest Builder Holdings Bhd and CIMB Group Holdings Bhd.

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