The FBM KLCI trended lower for the third straight session after lingering mostly in the negative territory as the key index closed at around the 1,707.73 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistances will be pegged around the 1,730-1,740 levels. Support will be set around the 1,680 level.

HSSEB has experienced a flag-formation breakout above the RM1.10 level. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM1.17 and RM1.28 levels. Support will be set around the RM1.05 level.

VELESTO has formed a breakout-pullback-continuation pattern above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher towards the RM0.265-RM0.28 levels. Support will be anchored around the RM0.225 level.

BJLAND has advanced to re-test the EMA9 level with rising volumes. The MACD Histogram has turned green, while the RSI is re-testing 50. Monitor for a trendline breakout above RM0.275, targeting the RM0.30-RM0.32 levels. Support will be pegged around the RM0.255 level.

Source: Mplus Research - 1 Mar 2019