Tracking the positive momentum in the Asia Pacific region, the FBM KLCI recovered all its previous session’s losses to close at around the 1,680.54 level last Friday. The MACD Histogram has extended another green bar, while the RSI remains in the oversold level. Resistance will be pegged around the 1,700-1,710 levels. Support will be set around the 1,660 level.

REVENUE has gapped-up to close above the EMA60 level with high volumes. The MACD Indicator has issued a BUY Signal, but the RSI remains below 50. Price may advance, targeting the RM1.34 and RM1.38 levels. Support will be pegged around the RM1.18 level.

CAB has formed a breakout-pullback-continuation pattern to close above the EMA20 level with rising volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Price may trend higher, targeting the RM0.68-RM0.72 levels. Support will be anchored around the RM0.58 level.

SKPRES has extended its gains to close above the EMA20 level. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a breakout above the RM1.33 level, targeting the RM1.45 and RM1.52 levels. Support will be set around the RM1.26 level.

Source: Mplus Research - 18 Mar 2019