M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Fri, 27 Mar 2020, 10:10 AM


M+ Online Technical Focus - 2 Dec 2019

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The FBM KLCI formed a bearish candle to close at its one-month low as the key index closed at around the 1,561.74 level last Friday. The MACD Line has tripped below the zero level, while the RSI has slipped into oversold. Resistance will be pegged around the 1,580-1,660 levels. Support will be set around the 1,550 level.

DPHARMA has rebounded off the EMA20 level. The MACD Histogram has turned red, but the RSI remains above 50. Monitor for a potential flag-formation breakout above RM1.40, targeting the RM1.48 and RM1.55 levels. Support will be set around the RM1.32 level.

FAJAR has gapped up to re-test the EMA60 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a consolidation breakout above RM0.37 level, targeting the RM0.395-RM0.415 levels. Support will be anchored around the RM0.35 level.

RGB has gapped-up to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a breakout above the RM0.185 level, targeting the RM0.21-RM0.225 levels. Support will be pegged around the RM0.165 level.

Source: Mplus Research - 2 Dec 2019

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Related Stocks

Chart Stock Name Last Change Volume 
DPHARMA 1.33 +0.03 (2.31%) 768,500 
FAJAR 0.22 +0.01 (4.76%) 3,485,100 
RGB 0.125 0.00 (0.00%) 11,799,400 

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