Tracking the positive movement on Wall Street overnight, the FBM KLCI gapped-up to close at its highest level since January 2018 at 1,871.46 pts yesterday. The MACD Indicator has issued a BUY signal, but the RSI is overbought. Resistance will be pegged around the 1,880-1,890 levels. Support will be set around the 1,850 level.

SKPRES has formed a bullish engulfing candle to close 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 RM1.94 level, targeting the RM2.14 and RM2.35 levels. Support will be set around the RM1.82 level.

LIONIND has gapped-up after finding support along the EMA9 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM1.37 level, targeting the RM1.52-RM1.61 levels. Support will be anchored around the RM1.26 level.

MBSB has rebounded above the EMA9 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a potential flag-formation breakout above the RM1.25 level, targeting the RM1.34-RM1.38 levels. Support will be anchored around the RM1.19 level.

Source: Mplus Research - 28 Feb 2018