M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Fri, 29 May 2020, 9:12 AM


M+ Online Technical Focus - 30 Dec 2019

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Window dressing activities shored the FBM KLCI higher as the key index formed a bullish engulfing candle above the EMA9 level to close at around the 1,610.61 level yesterday. The MACD Line has expanded positively above the zero level, but the RSI is overbought. Resistances will be pegged around the 1,630-1,640 levels. Support will be set around the 1,600 level.

WASEONG has rebounded to close above the EMA20 level. The MACD Histogram has extended another green bar, but RSI is treading below 50. Price may trend higher, targeting the RM1.25-RM1.33 levels. Support will be located around the RM1.12 level.

VSTECS has experienced a symmetrical triangle formation breakout above the RM1.50 level on improved volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Price may advance, targeting the RM1.60-RM1.67 levels. Support will be located around the RM1.45 level.

BJTOTO has advanced to close above the EMA60 level on mildly improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI is approaching 50. Monitor for a trendline breakout above RM2.65 level, targeting the RM2.78-RM2.82 levels. Support will be located around the RM2.49 level.

Source: Mplus Research - 30 Dec 2019

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Related Stocks

Chart Stock Name Last Change Volume 
WASEONG 0.535 +0.02 (3.88%) 4,660,900 
VSTECS 1.15 -0.02 (1.71%) 321,500 
BJTOTO 2.25 0.00 (0.00%) 211,300 

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