The FBMKLCI has been staying below BB20MB for the past six days. During that period, the Bollinger Band was still in squeezing stage until last Friday when the FBMKLCI made an initial minor lower low below 1,734 and causing the Bollinger Band to expand with bearish candlestick closing toward the lower band. The MACD histogram formed another red bar, while the RSI also extended below 40 level. The lower support is around 1,713 and the critical support is at 1690. However, if the FBMKLCI could rebound to stay above 1734 and subsequently above Bollinger Band’s middle band around 1,744-1,747, then next resistant range is around the 1759-1772 level.

EWEIN has been on gradually moving up in a channel for more than 3 months, hovering near the 200 moving average line. As at today, the price has pulled back and supported above the MA200 line as well as above the uptrend support line around RM0.770. The RSI is hovering above 55 level and if the price challenges the previous high of around RM0.870. the next targets are around RM0.920 and then RM0.950-RM0.970 levels. Beyond RM0.970, the price may head toward RM1.09 and RM1.15. Trailing stop is below the ema9 upon breakout. For new entry, stop loss is below RM0.770.

OCR is in consolidating within a triangle and is attempting to breakout the triangle at RM0.635 with increase in volume. The MACD histogram has turned green and the RSI is moving above 50 level. Monitor for the breakout above RM0.635 to challenge the previous high at RM0.690. If the price stays above RM0.690, the immediate targets are RM0.720 and RM0.750. Beyond that, the price may head toward RM0.800 and RM0.850. Trailing stop with dynamic daily Bollinger Band 20’s middle band and new entry stop loss is below RM0.600.

PRLEXUS has just experienced a breakout-pullback-continuation last week above the3 moving average 200 line. Most of the moving average lines are about to form a good take off. The RSI is attempting to get past 70 level. The price rebound would challenge previous high of RM1.56. If the price could stay above RM1.56, the next targets are around RM1.61 and RM1.69. Beyond that, the price could challenge RM1.78, RM1.90-RM1.96, and RM2.04. Trailing stop with dynamic daily ema9 upon breakout and new entry stop loss is below RM1.45.

Source: Mplus Research - 17 Apr 2017