The FBM KLCI managed to recover all its’ intraday losses as the key index closed at around the 1,554.49 level last Friday. The MACD Histogram has extended another green bar, but the RSI is hovering below 50. Resistance will be pegged around the 1,570-1,590 levels. Support will be set around the 1,540 level.

NGGB has formed a bullish candle to close above the EMA60 level on improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Monitor for a consolidation breakout above the RM0.39 level, targeting the RM0.415-RM0.445 levels. Support will be set around the RM0.37 level.

REDTONE has experienced a flag formation breakout above the RM0.53 level on high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may rally towards the RM0.575-RM0.605 levels. Support will be anchored around the RM0.50 level.

OPCOM has experienced a short-term trendline breakout above the RM0.735 level on high volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may advance, targeting the RM0.815-RM0.84 levels. Support will be pegged around the RM0.70 level.

Source: Mplus Research - 10 Feb 2020