M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Mon, 6 Jul 2020, 10:46 AM


M+ Online Technical Focus - 1 June 2020

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The FBM KLCI was powered higher above the EMA120 level as the key index closed at around the 1,473.25 level last Friday. The MACD Histogram has turned green, but the RSI is overbought. Resistance will be pegged around the 1,495-1,510 levels. Support will be set around the 1,430 level.

CANONE has formed a bullish candle after rebouning off the EMA9 level on improved volumes. The MACD Histogram has turned green, while the RSI treading below the overbought level. Price may advance, targeting the RM3.19-RM3.30 levels. Support will be anchored around the RM2.81 level.

FRONTKN has experienced a breakout above the RM2.42 resistance level on mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price targets are envisaged at around the RM2.61-RM2.69 levels. Support will be located around the RM2.25 level.

INARI has advanced towards the EMA120 level on mild volumes. The MACD Histogram has extended another green bar, but the RSI remains above 50. Monitor for a breakout above the RM1.50 resistance level, targeting the RM1.66-RM1.81 levels. Support will be pegged around the RM1.34 level.

Source: Mplus Research - 1 Jun 2020

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Related Stocks

Chart Stock Name Last Change Volume 
INARI 1.85 +0.07 (3.93%) 22,630,100 
FRONTKN 2.81 +0.19 (7.25%) 6,895,500 
CANONE 2.67 +0.01 (0.38%) 91,500 

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