The FBM KLCI staged a mild recovery from the previous session’s slump as the key index rebounded to close at around the 1,430.47 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,455-1,480 levels. Support will be set around the 1,415 level.

KPOWER has rebounded to close above the EMA60 level on mild volumes. The MACD Histogram has turned green, while the RSI has recovered from oversold. Price may stage further recovery, targeting the RM2.49-RM2.77 levels. Support will be pegged around the RM1.91 level.

UWC has rebounded off the EMA120 level on high volumes. The MACD Histogram has extended another green bar, while the RSI has recovered from oversold. Monitor for a breakout above the RM2.37 level, targeting the RM2.60-RM2.86 levels. Support will be anchored around the RM2.10 level.

GAMUDA has formed a hammer candle on mild volumes. The MACD Histogram has extended another green bar, but the RSI remains oversold. Monitor for a breakout above the RM3.24 level, targeting the RM3.45 and RM3.66 levels. Support will be set around the RM3.03 level.

Source: Mplus Research - 11 Mar 2020