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M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Tue, 22 Oct 2019, 8:54 AM

 

M+ Online Technical Focus - 18 Sept 2019

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The FBM KLCI traded in a choppy manner before closing higher to around the 1,604.30 level yesterday. The MACD Histogram has turned green, but the RSI remains below 50. Resistance will be pegged around the 1,620-1,630 levels. Support will be set around the 1,590 level.

SCOMNET has gapped-up to breakout above the short-term resistance at the RM0.87 level with improved volumes. The MACD Line has expended positively above the zero level, while the RSI remains above 50. Price may trend higher, targeting the RM0.925-RM0.97 levels. Support will be set around the RM0.825 level.

MHB has gapped-up to breakout above the RM0.85 level on mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI is overbought. Price may advance, targeting the RM0.91-RM0.95 levels after a mild pullback. Support will be anchored around the RM0.815 level.

SUNCON has formed a bullish candle to remain above the EMA120 level. The MACD Histogram has extended another green bar, but the RSI is below 50. Monitor for a trendline breakout above the RM2.05 level, targeting the RM2.14-RM2.20 levels. Support will be located around the RM1.99 level.

Source: Mplus Research - 18 Sept 2019

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Labels: SCOMNET, MHB, SUNCON

Related Stocks

Chart Stock Name Last Change Volume 
SCOMNET 0.885 +0.02 (2.31%) 2,280,400 
MHB 0.885 -0.01 (1.12%) 249,000 
SUNCON 1.98 -0.04 (1.98%) 61,400 

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