The eleventh hour buying support in selected telco heavyweight sent the FBM KLCI higher, closing at the 1,843.48 pts last Friday. The MACD Histogram has extended another red bar, while the RSI remains below 50. Resistance will be pegged around the 1,860-1,870 levels. Support will be set around the 1,830 level.

CAB has gapped-up and subsequently staged a breakout to close above the EMA120 level. The MACD Indicator has issued a BUY signal, while but RSI is below 50. Price target will be envisaged around the RM0.995 and RM1.08 levels. Support will be set around the RM0.90 level.

CHINHIN has experienced a short-term consolidation breakout above the RM1.07 level with high volumes. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Price may rally towards the RM1.17-RM1.24 levels after a short consolidation. Support will be anchored around the RM1.04 level.

TEOSENG has extended its gains above the EMA90 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above the RM103 level, targeting the RM1.14-RM1.20 levels. Support will be pegged around the RM0.97 level.

Source: Mplus Research - 19 Mar 2018