Tracking the positive performance on the Dow overnight, the FBM KLCI staged a mild recovery before closing at 1,709.76 pts on Friday. The MACD Histogram has extended another red bar, while the RSI continues to trend above 50. The immediate resistance will be pegged around the 1,730-1,770 levels. Support will be anchored at the 1,700 level.

RUBEREX has formed a bullish engulfing candle to close above the EMA60 level with improved volumes. The MACD Line has risen above zero, but the RSI climbed above 50. Monitor for a consolidation breakout above the RM0.78 level to target the RM0.82 and RM0.85 levels. Support will be set around the RM0.75 level.

DESTINI has gapped up and rebounded off the EMA120 level with high volumes. The MACD Histogram has turned green, but the RSI is treading below the overbought level. Monitor for the trendline breakout above the RM0.76 level, targeting the RM0.84 and RM0.895 levels. Support will be anchored around the RM0.68 level.

ASTINO has re-tested the resistance of the RM0.745 level with improved volumes. The MACD Histogram has turned green, while the RSI continues to trend above 50. Monitor for a breakout above the RM0.745 level to target the RM0.78 and RM0.825 levels. Support will be pegged around the RM0.71 level.

Source: Mplus Research - 20 Feb 2017