The FBM KLCI continues its recovery momentum, advancing toward the 1,600 level, supported by local fund net buying. However, investors remain cautious due to uncertainty surrounding Trump’s policies and global market trends. Lower liners are expected to trade within a rangebound pattern with selective trading opportunities, as traders may opt for quick profit-taking.
Consumer stocks
Economic updates this week include US home sales and Michigan Consumer Sentiment data, which may influence market sentiment. Sector-wise, consumer stocks could attract buying interest due to BNM maintaining the OPR, strengthening the Ringgit. The technology sector is also favorable, reflecting the Nasdaq’s positive performance.
Technical Outlook
The FBM KLCI continued its v-shaped recovery with a fourth consecutive session of gains. However, technical indicators remain negative, with the MACD Line below the Signal Line and RSI under 50. Resistance is at 1,600, while support is around 1,530.
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