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M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Fri, 5 Jun 2020, 2:29 PM

 

M+ Online Technical Focus - 27 March 2020

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Buying momentum spurred the FBM KLCI higher for the third straight session as the key index closed at around the 1,328.09 level yesterday. The MACD Indicator has issued a BUY Signal, but the RSI remains below 50. Resistance will be pegged around the 1,350-1,360 levels. Support will be set around the 1,300 level.

TM has rebounded to re-test the EMA60 level on mild volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a breakout above the RM3.58 level, targeting the RM3.75-RM3.92 levels. Support will be located around the RM3.37 level.

SUPERMX has experienced a short-term consolidation breakout above the RM1.54 level accompanied by rising volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Price may advance, targeting the RM1.70-RM1.86 levels. Support will be pegged around the RM1.40 level.

PWROOT has formed a bullish engulfing candle to close above the EMA9 level on mild volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Price may trend higher, targeting the RM2.00-RM2.08 levels. Support will be anchored around the RM1.65 level.

Source: Mplus Research - 27 Mar 2020

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Labels: PWROOT, SUPERMX, TM

Related Stocks

Chart Stock Name Last Change Volume 
PWROOT 2.50 0.00 (0.00%) 681,000 
SUPERMX 8.84 +0.64 (7.80%) 19,937,800 
TM 4.30 -0.03 (0.69%) 2,994,600 

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