The FBM KLCI rebounded off the 1,840 level and stayed above the short term upward trendline. The MACD Histogram, however, has extended another red bar. Also, the RSI is overbought. The FBM KLCI’s upside could be limited to the 1,870 resistance level. Support will be located around the 1,820-1,840 levels.

SUNZEN experienced a symmetrical trendline breakout above the RM0.54 level with high volumes. The MACD Indicator has expanded positively above zero. The RSI, however, is overbought. Price may rally towards the RM0.60 level after a short consolidation. Support will be set around the RM0.52 level.

SYCAL trended sideways after a sharp rally four trading days ago. The MACD Line continues to trend higher, but the RSI is in the overbought region. Monitor for a breakout above the RM0.475 level. Price target will be envisaged around the RM0.52 and RM0.56 levels. Support will be pegged around the RM0.445 level.

ECS could be forming a short term Breakout-Pullback-Continuation pattern above the RM1.61 level with improved volumes. The MACD Histogram has turned green, but the RSI has just crossed above 70. Price may be rallying higher after a mild retracement. Support will be anchored around the RM1.61 level.

Source: M+ Online Research - 10 Apr 2015