The FBM KLCI has gapped down, erasing all its’ previous session gains as the key index closed at around the 1,482.64 level last Friday. The MACD Histogram has turned red, but the RSI remained oversold. Resistance will be pegged around the 1,500-1,515 levels. Support will be set around the 1,470 level.

AEON has formed a bullish engulfing candle to form a trendline breakout above the RM1.36 level on improved volumes. The MACD Indicator has issued a BUY Signal, while the RSI has risen above 50. Price may stage a mild pullback, before targeting the RM1.45 and RM1.51 levels. Support will be set around the RM1.28 level.

KPJ has rebounded to close above the EMA20 level on mildly improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Monitor for a breakout above the RM0.97 level, targeting the RM1.01-RM1.04 levels. Support will be anchored around the RM0.945 level.

IGBREIT has rebounded off the EMA60 level on high volumes. The MACD Histogram has extended another green bar, while the RSI is remains above 50. Monitor for a breakout above the RM1.96 level, targeting the RM2.01-RM2.06 levels. Support will be pegged around the RM1.90 level.

Source: Mplus Research - 2 Mar 2020