M+ Online Research Articles
M+ Online Technical Focus - 3 Jan 2019
MalaccaSecurities
Publish date: Fri, 03 Jan 2020, 09:34 AM
MalaccaSecurities
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An official blog in I3investor to publish research reports provided by Malacca Securities research team.
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All materials published here are prepared by Malacca Securities. For latest offers on Malacca Securities trading products and news, please refer to: https://www.mplusonline.com.my
Malacca Securities Sdn Bhd
Hotline: 1300 22 1233 / 06-336 5178 (office hours: 8.30am - 5.30pm)
Tel : +606 - 337 1533 (General)
Fax : +606 - 337 1577
Email: support@mplusonline.com.my
The FBM KLCI started off the year on a bright note as the key index formed a bullish harami candle to close at around the 1,602.50 level yesterday. The MACD Line has expanded positively above the zero level, while the RSI remains above 50. Resistances will be pegged around the 1,620-1,630 levels. Support will be set around the 1,580 level.
OPCOM has experienced a symmetrical triangle formation breakout above the RM0.72 level with improved volumes. The MACD Histogram has turned green, while RSI is treading above 50. Price may trend higher, targeting the RM0.805-RM0.84 levels. Support will be located around the RM0.675 level.
JOHOTIN has experienced a flag-formation breakout above the RM1.75 level on improved volumes. The MACD Histogram has turned green, while the RSI is approaching 50. Price may advance, targeting the RM1.85-RM1.89 levels. Support will be located around the RM1.71 level.
SSTEEL has gapped up to breakout above the RM0.82 consolidation level on high volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM0.915-RM0.985 levels. Support will be located around the RM0.75 level.
Source: Mplus Research - 3 Jan 2020
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