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M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Mon, 10 May 2021, 10:08 AM

 

M+ Online Technical Focus - 13 May 2020

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The FBM KLCI lingered mostly in the negative territory and the key index closed lower at around the 1,379.93 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,400-1,420 levels. Support will be set around the 1,360 level.

PWRWELL has extended its gains above the EMA9 level on rising volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM0.305 level, targeting the RM0.345-RM0.36 levels. Support will be located around the RM0.275 level.

ISTONE has gapped up to re-test the EMA120 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM0.19-RM0.20 levels. Support will be located around the RM0.16 level.

DPHARMA has gapped up to re-test the RM1.60 resistance level on improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM1.67-RM1.74 levels. Support will be anchored around the RM1.53 level.

Source: Mplus Research - 13 May 2020

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