M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Thu, 6 Aug 2020, 11:52 AM


M+ Online Technical Focus - 23 Nov 2018

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Despite opening lower at the start of the trading day, the FBM KLCI clawed its way into the positive territory as the key index inched higher to close at around the 1,695.62 level yesterday. The MACD Histogram has extended another red bar, while the RSI has tripped below 50. Resistance will be pegged around the 1,720-1,730 levels. Support will be set around the 1,680 level.

NOTION has experienced a breakout-pullback-continuation pattern above the EMA20 level with improved volume. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price may advance, targeting the RM0.755 and RM0.79 levels. Support will be set around the RM0.68 level.

IGBREIT has rebounded off the EMA60 level with improved volumes. The MACD Line has risen above the zero level, while the RSI has risen above 50. Monitor for a breakout above RM1.71, targeting the RM1.76-RM1.80 levels. Support will be anchored around the RM1.66 level.

SIME has gapped up to re-test the EMA60 level with slightly improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above RM2.52, targeting the RM2.75-RM2.93 levels. Support will be pegged around the RM2.33 level.

Source: Mplus Research - 23 Nov 2018

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Related Stocks

Chart Stock Name Last Change Volume 
NOTION 1.87 +0.43 (29.86%) 110,696,700 
IGBREIT 1.80 -0.01 (0.55%) 421,700 
SIME 2.15 +0.02 (0.94%) 1,793,400 

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