The FBM KLCI extended its’ freefall for the sixth straight session as the key index closed at around the 1,219.72 level yesterday. The MACD Histogram has extended another red bar, while the RSI remains oversold. Resistance will be pegged around the 1,240-1,250 levels. Support will be set around the 1,200 level.

IHH has rebounded to breakout above the RM4.87 level on mild volumes. The MACD Histogram has turned green, while the RSI has recovered from oversold. Price may stage further recovery, targeting the RM5.27 and RM5.44 levels. Support will be set around the RM4.55 level.

TOPGLOV has rebounded to maintain its’ stance above the EMA60 level on mild volumes. Although the MACD Histogram has extended another red bar, the RSI remains above 50. Monitor for a short-term consolidation breakout above the RM5.91 level, targeting the RM6.30-RM6.70 levels. Support will be anchored around the RM5.63 level.

DIGI has rebounded to re-test the EMA20 level on mildly improved volumes. The MACD Histogram has extended another green bar, but the RSI remains below 50. Price may advance, targeting the RM4.25- RM4.45 levels. Support will be located around the RM3.82 level.

Source: Mplus Research - 20 Mar 2020