KLSE Daily Market Summary 26th September 2024

The market rebounded today following yesterday’s weakness, with the Market Momentum Tracker climbing back close to positive territory.

The short-term trend has returned to a healthy level, with over 50% of stocks now holding above their short-term moving averages. However, both the medium- and long-term trends remain in a downward trajectory.

Additionally, the breakdown count still exceeds breakouts, indicating that many stocks are breaking down to lower prices rather than breaking out to higher levels.

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