Profit taking activities in selective index-linked stocks halted the FBM KLCI’s five day winning streak as the key index closed at 1,855.99 pts yesterday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,870-1,890 levels. Support will be set around the 1,830 level.

WELLCAL has experienced a flag-formation breakout above the RM1.58 level with improved volumes. The MACD Histogram has turned green while the RSI remains above 50. Price may advance, targeting the RM1.66 and RM1.72 levels. Support will be set around the RM1.52 level.

ABLEGRP has extended its gains to close above the EMA20 level. The MACD Indicator has issued a BUY Signal, but the RSI is below 50. Monitor for a breakout above the RM0.125 level, targeting the RM0.145- RM0.155 levels. Support will be anchored around the RM0.11 level.

MMODE has advanced to close above the EMA20 level with improved volumes. The MACD Indicator has issued a BUY Signal, but the RSI is below 50. Monitor for a breakout above the RM0.345 level, targeting the RM0.38-RM0.40 levels. Support will be anchored around the RM0.32 level.

Source: Mplus Research - 21 Feb 2018