The FBM KLCI gapped down, erasing all its’ previous session gains as the key index closed at around the 1,531.20 level last Friday. The MACD Histogram has turned red, while the RSI remains above 50. Resistance will be pegged around the 1,550-1,560 levels. Support will be set around the 1,515 level.

JHM has formed a bullish candle to re-test the EMA9 level on rising volumes. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a trendline breakout above the RM1.45 level, targeting the RM1.58 and RM1.64 levels. Support will be set around the RM1.35 level.

SERNKOU has experienced a consolidation breakout above the RM0.875 level on high volumes. The MACD Indicator has issued a BUY Signal, while the RSI remains above 50. Price may advance, targeting the RM0.945-RM0.98 levels. Support will be anchored around the RM0.80 level.

RUBEREX has formed a bullish engulfing candle to close above the EMA20 level on mildly improved volumes. The MACD Histogram has extended another red bar, while the RSI remains above 50. Monitor for a breakout above the RM0.66 level, targeting the RM0.73-RM0.79 levels. Support will be pegged around the RM0.615 level.

Source: Mplus Research - 24 Feb 2020