M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Wed, 28 Oct 2020, 10:27 AM


M+ Online Technical Focus - 30 Aug 2019

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The FBM KLCI recovered all its intraday losses as the key index snapped a three-day losing streak to close higher to around the 1,595.18 level yesterday. The MACD Histogram has turned green, but the RSI remains below 50. Resistances will be pegged around the 1,610-1,620 levels. Support will be set around the 1,580 level.

CARIMIN has experienced a resistance breakout above the RM0.94 level accompanied by rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price targets are envisaged at around the RM1.01-RM1.09 levels. Support will be anchored around the RM0.87 level.

EKOVEST has rebounded above the EMA60 level with mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM0.85 level, targeting the RM0.90-RM0.955 levels. Support will be pegged around the RM0.80 level.

INSAS has experienced a short-term consolidation breakout above the RM0.795 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 RM0.83-RM0.86 levels. Support will be pegged around the RM0.77 level.

Source: Mplus Research - 30 Aug 2019

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Related Stocks

Chart Stock Name Last Change Volume 
CARIMIN 0.47 -0.005 (1.05%) 565,000 
EKOVEST 0.485 -0.005 (1.02%) 9,187,700 
INSAS 0.75 -0.005 (0.66%) 482,700 

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