Tracking the weakness on Wall Street overnight, the FBM KLCI lingered mostly in the negative territory, before closing at 1,855.07 pts yesterday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,870-1,890 levels. Support will be set around the 1,830 level.

PESTECH has trended higher to strengthen its position above the EMA20 level accompanied by improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Monitor for a breakout above the RM1.88 level, targeting the RM2.07 and RM2.20 levels. Support will be set around the RM1.72 level.

FRONTKN has experienced a breakout above the RM0.455 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may rally, targeting the RM0.495-RM0.525 levels. Support will be anchored around the RM0.42 level.

EMETALL has experienced a flag-formation breakout above the RM0.765 level with mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI is below 50. Price may trend higher, targeting the RM0.815-RM0.865 levels. Support will be anchored around the RM0.745 level.

Source: Mplus Research - 23 Feb 2018