The FBM KLCI edged marginally lower in line with regional equities as the key index closed at around the 1,537.08 level yesterday. The MACD Histogram has turned green, but the RSI remains below 50. Resistance will be pegged around the 1,550-1,560 levels. Support will be set around the 1,520 level.

GHLSYS has formed a hammer candle above the EMA20 level on mild volumes. The MACD Histogram has extended another green bar, while the RSI is re-testing 50. Monitor for a trendline breakout above the RM1.61 level, targeting the RM1.30 and RM1.44 levels. Support will be set around the RM1.02 level.

TM has advanced to re-test the EMA60 level on mild volumes. The MACD Histogram has extended another green bar, while the RSI is approaching 50. Monitor for a breakout above the RM3.88 level, targeting the RM4.05-RM4.20 levels. Support will be anchored around the RM3.78 level.

GCB has gapped up to maintain its’ stance above the EMA20 level on improved volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Monitor for a breakout above RM3.13 level, targeting the RM3.26-RM3.40 levels. Support will be pegged around the RM3.01 level.

Source: Mplus Research - 19 Feb 2020