KUALA LUMPUR, Dec 21 — Bursa Malaysia is expected to maintain its sideways pattern next week until new catalysts emerge, according to Rakuten Trade Sdn Bhd. Equity research...
A giant Christmas tree adorned with ornaments stands tall outside Suria KLCC in Kuala Lumpur December 18, 2024, captivating visitors during the festive season. — Picture by Raymond Manuelas a first-time user . Exclusively for Malay Mail readers: Use codeKUALA LUMPUR, Dec 21 — Bursa Malaysia is expected to maintain its sideways pattern next week until new catalysts emerge, according to Rakuten Trade Sdn Bhd.
For short-term trading, he said traders should watch out for the 1,590 and 1,610 levels while long-term investors may consider accumulating near 1,570, focusing on stocks with strong fundamentals. “We advise investors to monitor the moving average convergence/ divergence line closely for a bullish crossover as this could be an early signal of recovery,” Thong added.
On a Friday-to-Friday basis, the FBM KLCI weakened by 17.34 points to 1,591.41 from 1,608.75 in the previous week. The Technology Index shaved 0.20 points to 63.50, the Energy Index dropped 15.89 points to 804.11 and the Industrial Products and Services Index edged down 5.51 points to 170.26.
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