Despite hovering mostly in the negative zone, last minute buying support lifted the FBM KLCI marginally higher to close at 1,717.58 pts on Friday. The MACD Histogram has extended another red bar, but the RSI continues to trend above 50. Resistance will be pegged around the 1,730-1,750 levels. Support will be set around the 1,700 level.

After a sharp recovery from the RM0.78 level, MUDAJYA experienced a flag-formation breakout above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM0.945 level, targeting the RM1.02-RM1.08 levels. Support will be anchored around the RM0.88 level.

After a sharp recovery from the RM0.78 level, MUDAJYA experienced a flag-formation breakout above the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a breakout above the RM0.945 level, targeting the RM1.02-RM1.08 levels. Support will be anchored around the RM0.88 level.

EMICO has formed a bullish engulfing candle and closed above the EMA20 level with high volumes. The MACD Line has issued a BUY signal, while the RSI is approaching the 50 level. Price may extend its gains, targeting the RM0.315-RM0.34 levels. Support will be set around the RM0.26 level.

Source: Mplus Research - 13 Mar 2017