The FBM KLCI ended higher as bargain hunting activities were noted among oversold index heavyweights yesterday. The MACD Histogram has turned green, while the RSI has crossed above 30. The resistance will be pegged around the 1,800 level. Support will be located around the 1,750-1,770 levels.

CAREPLS has experienced a consolidation breakout above the RM0.50 level. The MACD Histogram has turned green, while the RSI continues to trend above the 50 level. Price may rally towards the RM0.525 and RM0.565 levels. Support will be pegged around the RM0.475 level.

KIMHIN has surged above RM1.48 level accompanied by higher-than-average volumes. The MACD indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the RM1.79 level after a mild consolidation. Support will be set around the RM1.40 level.

MEGB experienced a sideways consolidation breakout above the RM0.51 level with improved volumes. The MACD Indicator is approaching the zero level. The RSI, however, is overbought. Price target will be envisaged around the RM0.72-RM0.755 levels. Support will be located around the RM0.59 level.

Source: M+ Online Research - 18 Mar 2015