Tracking the weakness on Wall Street, coupled with the lower crude oil prices, the FBM KLCI trended sharply lower as the key index closed at 1,819.82 pts last Friday. The MACD Histogram has extended another red bar, while the RSI slipped below 50. Resistance will be pegged around the 1,830-1,850 levels. Support will be set around the 1,800 level.

INARI has formed a bullish engulfing candle and subsequently re-tested the EMA20 level with improved volumes. The MACD Histogram has extended another green bar, but the RSI is below 50. Monitor for a breakout above the RM3.33 level, targeting the RM3.80 and RM4.00 levels. Support will be set around the RM2.98 level.

TOPGLOV has rebounded to close above the EMA9 level accompanied by some improved volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a shortterm trendline breakout, targeting the RM10.00-RM10.40 levels. Support will be anchored around the RM9.54 level.

BJTOTO has formed a bullish engulfing candle accompanied by improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for follow-though buying interest above RM2.26, targeting the RM2.39-RM2.47 levels. Support will be pegged around the RM2.20 level.

Source: Mplus Research - 12 Feb 2018