The FBM KLCI managed to recoup all its’ intraday losses to march higher as the key index closed at around the 1,544.46 level last Friday. The MACD Histogram has extended another green bar, but the RSI remains below 50. Resistance will be pegged around the 1,560-1,570 levels. Support will be set around the 1,535 level.

PENERGY has experienced a short-term consolidation breakout above the RM1.15 level on rising volumes. The MACD Indicator has issued a BUY Signal, while the RSI is approaching 50. Price targets are envisaged at around the RM1.30 and RM1.44 levels. Support will be set around the RM1.02 level.

PWROOT has experienced a trendline breakout above the RM2.28 level. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may advance, targeting the RM2.45- RM2.55 levels. Support will be anchored around the RM2.16 level.

UZMA has rebounded to close above the EMA9 level on mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a trendline breakout above RM0.895, targeting the RM0.97-RM1.01 levels. Support will be pegged around the RM0.855 level.

Source: Mplus Research - 17 Feb 2020