The FBM KLCI Index is all set to give a bullish movement in upcoming trading sessions. On the technical ground, the KLCI Index is allowing its medium-term bullish trend and currently at its short-term support and we expect it to give a good bullish movement in coming trading session.
The Malaysian equity market this week impacted by the global sell-off and the KLCI fell 7.12 points to 1768.28. The minor support for the index lies in the zone of 1760 to 1765. Resistance for the index lies in the zone of 1770 to 1775 where short-term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 1785 in coming trading session.
We believe these corrections are routine matters. So, once this correction is done and the long positions are cut, the market should head upwards. So maybe KLCI could lose another 8-10 odd points near to 1760, and then it will find support.
Therefore, this is the time to accumulate spaces like finance companies and technology stocks which have corrected because when the market turns, it will not give too many opportunities.
KLSE Top performing stocks at reasonable price in finance and technology space
1. KRONOLOGI ASIA BERHAD (0176)
Kronologi Asia Berhad is a Malaysia-based investment holding company. The Company is engaged in providing enterprise data management (EDM) solutions. The Company’s segments are EDM Infrastructure Technology, EDM Managed Services, Investment holding and Others.
Year on year Kronologi Asia Bhd grew revenues 32.48% from 61.35m to 81.28m while net income improved 134.82% from 3.05m to 7.16m this makes the counter a must have stock in the portfolio and investors are advised to accumulate the counter and take every bearish movement above the level of 0.50 as a buying opportunity.
2. INSAS BERHAD (3379)
Insas Berhad is an investment holding company, which is engaged in the provision of the management services. The Company’s segments are Financial services and credit & leasing, Property investment and development and Investment holding and trading. The company is an emerging name in the Finance sector and it is at an attractive price and we expect it to reach the level of 1.05 in the medium term.
3. MALAYSIA BUILDING SOCIETY BERHAD (1171)
Malaysia Building Society Berhad is engaged in investment holding, money market activities, provision of financing, advancing and financial guarantees on a secured and unsecured basis. The Company operates through four segments: Financing, Property development, Leasing of real property and Hotel operations. Currently, the counter is at an attractive price and in is currently in a consolidation phase and the breakout of the level of 1.38 can result in a medium-term bullish movement in the counter and the investors are advice to start accumulating it once it reaches the level of 1.38 with a medium-term target of 1.50.
4. NOTION VTEC BERHAD (0083)
Notion Vtec Berhad is an investment holding company. The Company is engaged in providing management services and provides a range of services from design to production, tooling development, quality assurance, surface coating and finishing, heat treatment, and shipping and logistics. With its large portfolio and good reach in the market, this stock is a must have in the Technology space and currently, it is in a correction phase and we expect it to take support near to the level of 1.25 and then start giving bullish movement and may reach to the level of 1.45 in near term.
Note:- The above report has been released by Invest Tipster analyst team keeping in mind the best interest for the investors in KLSE market, But it is also necessary to apply live market analysis to get correct buying and selling level for getting profit in the stock market. If would like to get support from us you may sign up for the services and we will assign a analyst to advise on the KLSE stocks.