1,600 to remain as a solid psychological support for Bursa

FBM KLCI continued with its decline, back to around 1,600 amid persistent selling by foreign funds. We were indeed perplexed by the unrelenting foreign unloading that started in October rendering the local bourse short of liquidity.

Bursa

Nonetheless, we believe 1,600 to remain as a solid psychological support for now thus expect the index to hover within the 1,600-1,610 today.

     Technical View: ATECH (5302)

    • Entry Level: RM 3.20-RM3.31
    • Resistance levels are identified at RM3.50 (R1) and RM3.90 (R2). Support levels are pegged at RM3.10 (S1) and RM2.90 (S2).

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