Your Gain, Our Aim

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Technical Focus
Wednesday, 21 May, 2014



TAANN has consolidated sideways above the RM4.16 level over the
past two months. The weekly MACD Histogram has turned green,
while the weekly RSI is hovering above 50. Monitor for a breakout
above the RM4.51 level, targeting the RM4.91 and RM5.31 levels.
Support will be pegged around the RM3.85 level.

PRTASCO (5070) FITTERS (9318)
The FBM KLCI has retreated from the all-time-high amid selling on
selected heavyweights in the O&G and telco sectors. The MACD
Histogram has turned red, while the RSI is overbought. The key
index may pull back further towards the support of the 1,862-1,870
levels. Resistance will be envisaged around the 1,900 level.

FBMKLCI TAANN (5012) Weekl y


FITTERS has rebounded off the RM1.00 psychological level with
mild volumes. The MACD indicator is trending higher. The RSI,
however is hovering below 50. Price is likely to rally higher towards
the RM1.11 and RM1.20 levels after a short consolidation. Support
will be located around the RM1.00 level.

PRTASCO has rebounded above the EMA20 level (RM1.92 level) with
improved volumes. The MACD indicator has issued a Buy signal,
while the RSI has surged above 50. Monitor for a breakout above the
RM2.00 level, price target will be envisaged around the RM2.20 level.
Support will be pegged around the RM1.85 level.