MIDF Research said in retrospect, foreigners offloaded -RM19.5bil and -RM6.9bil in 2015 and 2014 respectively.
KUALA LUMPUR: Maybank Investment Bank Research recommended a “Take Profit” strategy for Thursday.
It said the April 2016 futures was at a 3.32-point discount against the FBM KLCI.
“We believe supports of 1,698 to 1,715 may be weaker, while very heavy profit-taking activities will cap rebounds at the resistances of 1,717 and 1,735,” it said.
Maybank Research said the KLCI fell from the 1,727.41 high, but found a key floor at 1,600.92 on Jan 21, 2016.
“Trend-wise, the index direction had turned up and stalled at 1,726.55 on March 23, 2016.
“The 62% Fibonacci retracement (FR) level of 1,727 is proving to be a very tough level to crack.
"Investors may continue to sell stocks as the index approaches the key 1,726 to 1,728 FR zone on the 1Q window dressing activities,” it said.
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