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Author: MalaccaSecurities   |   Latest post: Wed, 22 Jan 2020, 9:24 AM

 

M+ Online Technical Focus - 13 Dec 2019

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The FBM KLCI edged higher, retesting the EMA9 level as the key index closed at around the 1,567.34 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistances will be pegged around the 1,580-1,590 levels. Support will be set around the 1,550 level.

MBMR has formed a bullish candle to close above the EMA60 level. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a trendline breakout above RM3.93, targeting the RM4.18-RM4.46 levels. Support will be located around the RM3.69 level.

EKOVEST has advanced to close above the EMA120 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI is approaching 50. Monitor for a symmetrical triangle formation breakout above RM0.81, targeting the RM0.86-RM0.885 levels. Support will be located around the RM0.785 level.

VSTECS has formed a bullish engulfing candle to re-test the EMA9 level. Although the MACD Histogram has extended another red bar, the RSI remains above 50. Monitor for a potential flag-formation breakout above RM1.51, targeting the RM1.67-RM1.73 levels. Support will be located around the RM1.43 level.

Source: Mplus Research - 13 Dec 2019

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Labels: MBMR, EKOVEST, VSTECS

Related Stocks

Chart Stock Name Last Change Volume 
MBMR 3.95 0.00 (0.00%) 374,300 
EKOVEST 0.725 0.00 (0.00%) 13,114,200 
VSTECS 1.30 +0.01 (0.78%) 481,900 

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