M+ Online Research Articles

M+ Online Technical Focus - 17 Oct 2014

MalaccaSecurities
Publish date: Fri, 17 Oct 2014, 09:55 AM
An official blog in I3investor to publish research reports provided by Malacca Securities research team.

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The FBM KLCI continues its downward formation after the violation of the 1,800 psychological level. The MACD indicator has expanded negatively, while the RSI is trending lower. The key index may retest the next support of the 1,750 level. Meanwhile, resistance is set around the 1,800-1,820 levels.

 

Once again, JIANKUN has rebounded off the EMA9 level with improved volumes. The MACD indicator has expanded positively above zero, while the RSI is above 50. Monitor for a breakout above the RM0.49 level, targeting the RM0.60 level. Support will be set around the RM0.43 level.

 

EPMB has retraced towards the EMA120 level and rebounded with high volumes. The MACD Histogram has extended another green bar. The RSI is suggesting that the price is oversold. Price target will be envisaged around the RM0.87 and RM0.93 levels. Support will be set around the RM0.78 level.


SNTORIA has rebounded around the EMA60 level, forming a bullish engulfing bar with improved volumes. The MACD Histogram has turned green, while the RSI is overbought. Price is likely to rebound higher towards the RM1.48 and RM1.60 levels. Support will be pegged around the RM1.31 level.

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