The FBM KLCI managed to clung onto its’ intraday gains as the key index inched higher to close at around the 1,491.03 level yesterday. The MACD Histogram has extended another green bar, while the RSI remains below 50. Resistance will be pegged around the 1,500-1,510 levels. Support will be set around the 1,480 level.

ORNA has experienced a flag-formation breakout above the RM1.28 level on improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM1.42-RM1.50 levels. Support will be pegged around the RM1.18 level.

FRONTKN has rebounded off the EMA120 level on mild volumes. The MACD Histogram has turned green, while the RSI has recovered from oversold. Monitor for a trendline breakout above the RM2.35 level, targeting the RM2.61-RM2.68 levels. Support will be anchored around the RM2.15 level.

TGUAN has rebounded off the EMA60 level, forming a bullish engulfing candle. The MACD Histogram has turned green, but the RSI remains below 50. Monitor for a breakout above the RM3.88 level, targeting the RM4.20 and RM4.32 levels. Support will be set around the RM3.65 level.

Source: Mplus Research - 6 Mar 2020