M+ Online Research Articles

M+ Online Technical Focus - 18 Dec 2017

MalaccaSecurities
Publish date: Mon, 18 Dec 2017, 09:56 AM
An official blog in I3investor to publish research reports provided by Malacca Securities research team.

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The FBM KLCI experienced minor profit taking following the substantial gains over the past three trading days as the key index closed at 1,753.07 pts yesterday. The MACD Line has risen above the zero level, but the RSI is overbought. Resistance will be pegged around the 1,760-1,770 levels. Support will be set around the 1,730 level.

MYEG has experienced a symmetrical triangle formation breakout above the RM2.10 level accompanied by improved volumes. The MACD Indicator has issued a BUY signal, while the RSI has risen above 50. Price may rally, targeting the RM2.21-RM2.25 levels. Support will be set around the RM2.01 level.

After finding support above the EMA120 level, LEWEKO has experienced a breakout above the RM0.305 level with improved volumes. The MACD Histogram has extended another green bar, while the RSI has risen above 50. Price may trend higher, targeting the RM0.34-RM0.345 levels. Support will be anchored around the RM0.285 level.

MRCB has experienced a breakout above the RM1.07 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may rally, targeting the RM1.15- RM1.18 levels. Support will be set around the RM1.02 level.

Source: Mplus Research - 18 Dec 2017

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janetchiam8

MRCB has experienced a breakout above the RM1.07 level with rising volumes. The MACD Histogram has extended another green bar, while the RSI remains above 50. Price may rally, targeting the RM1.15- RM1.18 levels. Support will be set around the RM1.02 level.

2017-12-22 10:28

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