M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Wed, 21 Oct 2020, 10:02 AM


M+ Online Technical Focus - 5 June 2020

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The FBM KLCI gapped up to register its seventh straight gains as the key index closed at around the 1,561.84 level yesterday. The MACD Histogram has extended another green bar, but the RSI is overbought. Resistance will be pegged around the 1,560-1,580 levels. Support will be set around the 1,510 level.

ESCERAM has formed a bullish candle above the EMA20 level on improved volumes. The MACD Histogram has turned green, while the RSI has rebounded off 50. Price may advance, targeting the RM0.595-RM0.68 levels. Support will be anchored around the RM0.465 level.

BCMALL has formed a bullish engulfing to remain above the EMA9 level on improved volumes. The MACD Line has expanded positively above the zero level, while the RSI remains above 50. Price may trend higher, targeting the RM0.32-RM0.365 levels. Support will be located around the RM0.245 level.

OKA has formed an ascending triangle formation breakout above the RM0.605 level on mild volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price targets are envisaged at around the RM0.66-RM0.705 levels. Support will be pegged around the RM0.57 level.

Source: Mplus Research - 5 Jun 2020

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Related Stocks

Chart Stock Name Last Change Volume 
OKA 0.615 +0.01 (1.65%) 112,000 
BCMALL 0.30 0.00 (0.00%) 5,818,400 
ESCERAM 0.755 -0.04 (5.03%) 12,681,200 

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