M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Mon, 17 Jun 2019, 12:00 PM


M+ Online Technical Focus - 13 May 2019

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The FBM KLCI erased all its intraday gains to trend lower for the third straight session as key index closed at around the 1,610.27 level last Friday. The MACD Line has issued a SELL Signal, while the RSI remains below 50. Resistances will be pegged around the 1,630-1,640 levels. Support will be set around the 1,600 level.

FGV advanced to close above the EMA20 level with slightly improved volumes last Friday. The MACD Histogram has turned green, while the RSI remains above 50. Price targets are envisaged around the RM1.38 and RM1.47 levels. Support will be anchored around the RM1.15 level.

VIZIONE has formed a bullish harami candle after rebounding off the EMA60 level. The MACD Histogram has extended another red bar, but the RSI remains above 50. Monitor for a breakout above the RM1.05 level, targeting the RM1.11-RM1.17 levels. Support will be pegged around the RM1.01 level.

UZMA has formed a bullish engulfing candle to close above the EMA9 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has recovered from the oversold level. Monitor for a breakout above the RM0.855 level, targeting the RM0.96 and RM1.04 levels. Support will be located around the RM0.79 level.

Source: Mplus Research - 13 May 2019

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Chart Stock Name Last Change Volume 
FGV 1.14 +0.02 (1.79%) 2,810,900 
VIZIONE 0.97 -0.005 (0.51%) 484,200 
UZMA 0.625 +0.005 (0.81%) 2,680,300 

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