The FBM KLCI rebounded from the previous session sharp selloff as the key index closed at around the 1,500.88 level last Friday. The MACD Histogram has extended another red bar, while the RSI has recovered from oversold. Resistance will be pegged around the 1,515-1,530 levels. Support will be set around the 1,480 level.

FRONTKN has formed a bullish engulfing candle to re-test the EMA20 level. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM2.45 level, targeting the RM2.68 and RM2.80 levels. Support will be set around the RM2.27 level.

CARIMIN has formed a bullish engulfing candle to close above the EMA60 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Monitor for a breakout above the RM1.24 level, targeting the RM1.35-RM1.42 levels. Support will be anchored around the RM1.11 level.

SCGM has formed a bullish engulfing candle to close above the EMA60 level. The MACD Line remains above the Signal Line, while the RSI remains above 50. Monitor for a breakout above the RM1.54 level, targeting the RM1.67-RM1.81 levels. Support will be pegged around the RM1.45 level.

Source: Mplus Research - 26 Feb 2020