The FBM KLCI edged lower after hovering in the negative territory for most of the trading session as the key index closed at around the 1,687.41 level yesterday. The MACD Histogram has extended another red bar, 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.

REVENUE has experienced a flag-formation breakout above RM1.23 with improved volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Price may rally, targeting the RM1.34 and RM1.38 levels. Support will be set around the RM1.18 level.

TRC has formed a breakout-pullback-continuation above the EMA120 level with rising volumes. The MACD Histogram has turned green, but the RSI remains below 50. Price may stage further recovery, targeting the RM0.57-RM0.59 levels. Support will be anchored around the RM0.52 level.

KPJ has formed a bullish candle to rebound above the EMA60 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above RM1.09, targeting the RM1.17-RM1.25 levels. Support will be pegged around the RM1.05 level.

Source: Mplus Research - 13 Feb 2019