M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Mon, 13 Jul 2020, 9:58 AM


M+ Online Technical Focus - 27 May 2020

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The FBM KLCI halted a 7-day winning streak prior to the extended weekend break as the key index closed lower at around the 1,436.76 level on last Friday. The MACD Histogram has turned red, while the RSI has retreated from the overbought zone. Resistance will be pegged around the 1,460-1,480 levels. Support will be set around the 1,420 level.

SCOMNET has gapped up to remain above the EMA9 level on high volumes. The MACD Indicator has issued a BUY Signal, but the RSI is slightly overbought. Monitor for a resistance breakout above the RM0.885 level, targeting the RM0.97-RM1.00 levels. Support will be anchored around the RM0.80 level.

DIGI has formed a bullish candle to rebound off the EMA60 level on mild volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a potential flag-formation breakout above the RM4.51 level, targeting the RM4.68-RM4.78 levels. Support will be located around the RM4.37 level.

SLP has formed a bullish harami candle to close above the EMA20 level on improved volumes. The MACD Histogram has turned green, but the RSI is below 50. Monitor for a breakout above the RM0.865 level, targeting the RM0.93-RM0.98 levels. Support will be pegged around the RM0.83 level.

Source: Mplus Research - 27 May 2020

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Related Stocks

Chart Stock Name Last Change Volume 
SLP 0.915 +0.04 (4.57%) 423,600 
DIGI 4.36 +0.02 (0.46%) 1,973,200 
SCOMNET 1.39 +0.02 (1.46%) 10,067,500 

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