KUALA LUMPUR: OSK Research said it is keeping our bullish bias on the near-term stock market.
It said on Wednesday, Nov 3 the fact that the FBM KLCI continued to add on more points and eventually violate the previous peak of 1,503 while at the same time did not retrace further after taking out the steeper uptrend.
OSK Research said this suggested that market sentiment has improved since the slightly more than 20-points drop on the Oct 14, 15 and 18.
'The 1,524.69 level would be the next resistance that we can detect from the current level. To the downside, 1,500-1,503 is the immediate support while 1,479 is the next support, followed by the 1,439 level,' it said.
It said on Wednesday, Nov 3 the fact that the FBM KLCI continued to add on more points and eventually violate the previous peak of 1,503 while at the same time did not retrace further after taking out the steeper uptrend.
OSK Research said this suggested that market sentiment has improved since the slightly more than 20-points drop on the Oct 14, 15 and 18.
'The 1,524.69 level would be the next resistance that we can detect from the current level. To the downside, 1,500-1,503 is the immediate support while 1,479 is the next support, followed by the 1,439 level,' it said.
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