BURSA ENDS HIGHER, SUPPORTED BY BANKING, PLANTATION STOCKS

KLSE is forming ROUNDING bottom pattern. It may break resistance level 1510 in this week. It may go upto 1530 in this week. On the daily chart KLSE is in up trend. Primary trend is down trend and secondary trend is up trend. RELATIVE STRENGTH INDEX is 62. Thereis strong resistance level at 1510. This level 1510 may break in this week. If it is break this level then it can go more upside. Bursa Malaysia closed higher for the second consecutive day on Friday (Aug 12), with the benchmark index ending above the 1,500-psychological level, thanks to persistent buying support in selected heavyweights, especially banking and plantation counters. The FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.63 of-a-point to end the week at 1,506.19 compared with Thursday’s close of 1,505.56, as gains were limited by mild profit-taking. The benchmark index, which opened 0.49 of-a-point weaker at 1,505.07 this morning, moved between 1,504.21 and 1,511.80 throughout the trading session. Market breadth was positive with gainers leading losers 440 to 367, while 442 counters were unchanged, 1,034 untraded, and 24 others suspended. Total turnover decreased to 2.08 billion units worth RM1.63 billion from 2.55 billion units worth RM1.97 billion on Thursday.

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