Tracking the weakness on Wall Street overnight, the FBM KLCI retreated for the fourth straight session as the key index closed at around the 1,700.76 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains above 50. Resistances will be pegged around the 1,720-1,730 levels. Support will be set around the 1,680 level.

OCK has experienced a breakout-pullback-continuation pattern above the EMA120 level with improved volumes. The MACD Histogram has turned green, but the RSI remains below 50. Price may advance, targeting the RM0.61 and RM0.64 levels. Support will be set around the RM0.525 level.

KGB has formed a bullish engulfing candle to recover above the EMA20 level with slightly improved volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Price may stage further recovery towards the RM1.34-RM1.40 levels. Support will be anchored around the RM1.21 level.

SUNWAY has formed a hammer candle to rebound off the EMA20 level. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a potential flag-formation breakout above RM1.65, targeting the RM1.71-RM1.82 levels. Support will be pegged around the RM1.60 level.

Source: Mplus Research - 4 Mar 2019