The FBM KLCI managed to eke-out marginal gains after hovering mostly in the positive territory as the key index inched higher to close at around the 1,686.95 level yesterday. The MACD Histogram has extended another red bar, while the RSI is treading marginally below 50. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,660 level.

GBGAQRS has rebounded off the EMA9 level with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Price target will be envisaged around the RM1.33 and RM1.39 levels. Support will be set around the RM1.12 level.

PUNCAK has gapped-up to breakout above the RM0.375 level with high volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Price may advance towards the RM0.425- RM0.45 levels. Support will be anchored around the RM0.35 level.

CMSB has formed a bullish engulfing candle with improved volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above RM3.23, targeting the RM3.50-RM3.60 levels. Support will be pegged around the RM3.11 level.

Source: Mplus Research - 8 Mar 2019