Tracking the weakness on Wall Street overnight, the FBM KLCI erased most of its previous session’s gains as the key index closed at around the 1,686.52 level last Friday. The MACD Indicator has issued a SELL Signal, but the RSI remains above 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,670 level.

GBGAQRS has experienced a short-term breakout above the RM0.935 accompanied by rising volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Price may stage further recovery, targeting the RM1.05 and RM1.15 levels. Support will be set around the RM0.87 level.

KUB has formed a bullish candle to close above the EMA9 level with high volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Monitor for a symmetrical triangle formation breakout above RM0.435, targeting the RM0.48-RM0.53 levels. Support will be anchored around the RM0.395 level.

BAHVEST has formed a bullish candle to remain above the EMA120 level with improved volumes. The MACD Indicator has expanded positively above the zero level, while the RSI remains above 50. Monitor for a breakout above RM0.51, targeting the RM0.555-RM0.59 levels. Support will be pegged around the RM0.47 level.

Source: Mplus Research - 11 Feb 2019