The FBM KLCI recorded its’ eighth straight losing streak as the key index closed at around the 1,531.06 level last Friday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,550-1,560 levels. Support will be set around the 1,515 level.

KRETAM has experienced a short-term consolidation breakout above the RM0.405 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may trend higher, targeting the RM0.445 and RM0.475 levels. Support will be set around the RM0.38 level.

QL has formed a bullish engulfing candle to close above the EMA9 level on improved volumes. The MACD Histogram has turned green, while the RSI remains below 50. Price may advance, targeting the RM8.36-RM8.50 levels. Support will be anchored around the RM8.00 level.

TIME has rebounded off the EMA60 level with rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Monitor for a breakout above the RM9.30 level, targeting the RM9.50-RM9.70 levels. Support will be pegged around the RM9.00 level.

Source: Mplus Research - 3 Feb 2020