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M+ Online Technical Focus - 22 Jan 2018

MalaccaSecurities
Publish date: Mon, 22 Jan 2018, 12:03 PM
An official blog in I3investor to publish research reports provided by Malacca Securities research team.

All materials published here are prepared by Malacca Securities. For latest offers on Malacca Securities trading products and news, please refer to: https://www.mplusonline.com.my

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Tracking the gains on Wall Street overnight, the FBM KLCI rebounded above the EMA9 level before closing around the 1,828.83 pts. The MACD Indicator has issued a SELL signal, while the RSI is hovering above 50. Resistance will be pegged around the 1,850-1,870 levels. Support will be set around the 1,800 level.

OMESTI has formed a bullish engulfing candle to close above the EMA20 level improved volumes. The MACD Histogram has extended another green bar, while the RSI is retesting 50. Monitor for a symmetrical triangle formation breakout above the RM0.53 level, targeting the RM0.59 and RM0.605 levels. Support will be set around the RM0.49 level.

TRC has experienced a short-term breakout-pullback-continuation pattern above the EMA20 level. The MACD Histogram has turned green. The RSI, however, is slightly overbought. Price may rally towards the RM0.735-RM0.755 levels. Support will be anchored around the RM0.57 level.

UOADEV has experienced a breakout to close above the EMA120 level with improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may trend higher, targeting the RM2.70-RM2.76 levels. Support will be pegged around the RM2.35 level.

Source: Mplus Research - 22 Jan 2018

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