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M+ Online Research Articles

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

 

M+ Online Technical Focus - 18 Nov 2019

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The FBM KLCI finished marginally higher after experiencing a choppy trading session as the key index closed at around the 1,594.75 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistance will be pegged around the 1,610-1,620 levels. Support will be set around the 1,580 level.

SCOMNET has advanced to close above the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price targets are envisaged at around the RM0.91-RM0.975 levels. Support will be located around the RM0.825 level.

GADANG has formed a bullish engulfing candle to close above the EMA120 level. The MACD Histogram has extended another red bar, while the RSI is slightly overbought. Price may trend higher, targeting the RM0.77-RM0.81 levels. Support will be located around the RM0.71 level.

YTLREIT has gapped up to breakout above the RM1.33 level with high volumes. The MACD Line has risen above the zero level, while the RSI remains above 50. Price may advance, targeting the RM1.39-RM1.45 levels. Support will be located around the RM1.27 level.

Source: Mplus Research - 18 Nov 2019

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Related Stocks

Chart Stock Name Last Change Volume 
SCOMNET 2.21 -0.09 (3.91%) 762,200 
GADANG 0.375 0.00 (0.00%) 795,700 
YTLREIT 0.715 +0.005 (0.70%) 197,100 

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