The FBM KLCI marched higher for the third straight session as the key index advanced above the 1,700 psychological level, closing at around the 1,706.38 level last Friday. The MACD Histogram has extended another green bar, while the RSI remains above 50. Resistance will be pegged around the 1,730-1,740 levels. Support will be set around the 1,680 level.

SCOMNET has experienced a breakout-pullback-continuation pattern above the RM0.67 level with improved volume. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may rally, targeting the RM0.745 and RM0.78 levels. Support will be set around the RM0.625 level.

MAHSING has gapped-up to close above the EMA9 level with slightly improved volumes. The MACD Histogram has turned green, while the RSI is marginally below overbought. Monitor for a breakout above RM1.05, targeting the RM1.10-RM1.13 levels. Support will be anchored around the RM0.995 level.

SALUTE has extended its gains to close above the EMA20 level. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a breakout above RM0.545, targeting the RM0.59-RM0.61 levels. Support will be pegged around the RM0.51 level.

Source: Mplus Research - 19 Nov 2018