The FBM KLCI staged a mild pullback last Friday, halting a three-day winning streak on profit taking activities on selective index heavyweights before closing around the 1,708.38 pts. The MACD Histogram has extended another green bar, but the RSI has tripped below 50. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

MRCB has formed a breakout-pullback-continuation pattern above the EMA60 level with high volumes. The MACD Histogram has turned green, while the RSI has risen above 30. Price may rally further, targeting the RM1.55-RM1.68 levels. Support will be set around the RM1.39 level.

After consolidating for approximately a month, WELLCAL has gapped up and retested the RM1.94 level with improved volumes. The MACD Histogram has produced a green bar, while the RSI has risen above 50. Monitor for a breakout above the RM1.94 level, targeting the RM2.02-RM2.11 levels. Support will be anchored around the RM1.88 level.

After finding some support along the RM0.61 level, MEDIAC has formed a bullish engulfing candle to close above the EMA60 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM0.65 level, targeting the RM0.71-RM0.775 levels. Support will be anchored around the RM0.61 level.

Source: Mplus Research - 6 Mar 2017