M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Wed, 5 Aug 2020, 11:14 AM


M+ Online Technical Focus - 19 Jun 2019

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The FBM KLCI halted a five-day losing streak as the key index formed a bullish engulfing candle above the EMA20 level to close at around the 1,652.76 level yesterday. The MACD Histogram has turned green, but the RSI is overbought. Resistances will be pegged around the 1,670-1,680 levels. Support will be set around the 1,630 level.

EWEIN has formed a flag-formation breakout above the RM0.685 level with higher-than-average volumes. The MACD Indicator has issued a BUY Signal, but the RSI is overbought. Price may advance, targeting the RM0.74 and RM0.76 levels after a mild pullback. Support will be located around the RM0.65 level.

SUCCESS has experienced a breakout above the RM0.86 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM0.945 and RM1.00 levels. Support will be anchored around the RM0.80 level.

IKHMAS has formed a short-term breakout-pullback-continuation pattern above the EMA9 level with mildly improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price targets are envisaged at around the RM0.23-RM0.24 levels. Support will be pegged around the RM0.195 level.

Source: Mplus Research - 19 Jun 2019

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Related Stocks

Chart Stock Name Last Change Volume 
EWEIN 0.28 +0.035 (14.29%) 2,060,600 
SUCCESS 0.56 -0.005 (0.88%) 1,432,800 
IKHMAS 0.215 +0.035 (19.44%) 56,797,200 

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