Tracking the weakness across key regional indices, the FBM KLCI extended its losses last Friday, falling below the 1,700 level before closing lower at 1,698.35 pts. The MACD Histogram has turned red, while the RSI has fallen from the overbought level. The immediate resistance will be located around the 1,730- 1,750 levels. Support will be pegged at the 1,680 level.

OKA has gapped up above the EMA9 level, forming a breakout-pullback-continuation formation above the RM1.28 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI continues to trend above 50. Price may rally towards the target of the RM1.38 and RM1.50 levels. Support will be set around the RM1.28 level.

PESONA has rebounded off the RM0.64 level and formed a bullish engulfing candle with high volumes. The MACD Histogram has turned green, but the RSI is approaching the overbought level. Monitor for a breakout above the RM0.715 resistance level to target the RM0.77 and RM0.815 levels. Support will be anchored around the RM0.64 level.

MSC has formed a symmetrical triangle formation breakout above the RM4.04 level with improved volumes. The MACD Line has rose above the zero level, while the RSI has trended above 50. Price target will be envisaged around the RM4.28-RM4.49 levels. Support will be located around the RM3.90 level.

Source: Mplus Research - 27 Feb 2017