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M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Fri, 15 Nov 2019, 6:36 PM

 

M+ Online Technical Focus - 18 Oct 2019

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The FBM KLCI retreated on quick profit taking activities as the key index closed marginally lower at around the 1,574.50 level yesterday. The MACD Histogram has extended another green bar, but RSI remains below 50. Resistance will be pegged around the 1,590-1,600 levels. Support will be set around the 1,560 level.

SCOMNET has experienced a symmetrical triangle formation breakout above the RM0.87 level with improved volumes. The MACD Histogram has extended another green bar, but the RSI is slightly overbought. Price may advance, targeting the RM0.945-RM0.975 levels. Support will be set around the RM0.82 level.

HANDAL has experienced a consolidation breakout above the RM0.38 level with improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may trend higher, targeting the RM0.41-RM0.435 levels. Support will be located around the RM0.35 level.

UNISEM has formed a bullish candle to rebound off the EMA9 level. The MACD Indicator has expanded positively above the zero level, but the RSI is overbought. Monitor for a breakout above the RM2.65 level, targeting the RM2.93-RM3.00 levels. Support will be located around the RM2.46 level.

Source: Mplus Research - 18 Oct 2019

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Chart Stock Name Last Change Volume 
SCOMNET 0.86 +0.03 (3.61%) 882,200 
HANDAL 0.365 -0.01 (2.67%) 559,200 
UNISEM 2.26 +0.01 (0.44%) 86,700 

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