KLSE Daily Market Summary 23rd September 2024

Today’s session was weaker than the last trading day, with the Market Momentum Tracker falling into negative territory. Despite this, the short-term breakout count remains positive, with more breakouts than breakdowns.

However, the long-term trend still sits in negative territory, indicating that breakdowns continue to outnumber breakouts over a longer time frame. Most stocks retraced today following the bullish movements seen on Thursday and Friday.

For now, it’s important to focus on the leaders emerging in this environment. This is a market of stocks, so prioritize following the movements of the leading stocks.

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