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M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Fri, 15 Jan 2021, 10:44 AM

 

M+ Online Technical Focus - 8 May 2020

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The FBM KLCI traded in a choppy manner before succumbing to the eleventh hour selling pressure as the key index closed at around the 1,376.93 level on Wednesday. The MACD Histogram has extended another red bar, while the RSI has tripped below 50. Resistance will be pegged around the 1,400-1,420 levels. Support will be set around the 1,360 level.

JOHOTIN has experienced a resistance breakout above the RM1.42 resistance level on mildly improved volumes. The MACD Histogram has turned green, while the RSI remains above 50. Price may advance, targeting the RM1.53-RM1.60 levels. Support will be located around the RM1.35 level.

CANONE has experienced a resistance breakout above the RM2.63 level on high volumes. The MACD Histogram has turned green, but the RSI is overbought. Price targets are located at around the RM2.80- RM3.00 levels. Support will be located around the RM2.48 level.

SOP has formed a bullish candle to close above the EMA20 level accompanied by rising volumes. The MACD Histogram has turned green, while the RSI is hovering below 50. Price may trend higher, targeting the RM2.65-RM2.85 levels. Support will be anchored around the RM2.34 level.

Source: Mplus Research - 8 May 2020

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Labels: SOP, CANONE, JOHOTIN

Related Stocks

Chart Stock Name Last Change Volume 
SOP 4.34 -0.03 (0.69%) 1,023,500 
CANONE 2.73 -0.02 (0.73%) 26,800 
JOHOTIN 1.95 0.00 (0.00%) 224,600 

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