The FBM KLCI closed on a positive note as buying activities were rather strong. Nonetheless, daily volume traded dropped to around the 3bn shares level depicting that retail participation remained side-lined.
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“For today, we expect trading activities to improve taking cue from the uptrend on Wall Street thus anticipate the index to hover within the 1,610-1,620 range today,” says Rakuten.
Technical View: UOADEV (5200)
Resistance levels are identified at RM2.04 (R1) and RM2.20 (R2). Support levels are pegged at RM1.82 (S1) and RM1.72 (S2).
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