The FBM KLCI continues to trend lower on the back of mild profit taking activities among the index heavyweights. The MACD Histogram extended another red bar. The RSI, however, is above 50. Resistance will be pegged around the 1,860 level. Support will be located around the 1,820 level.

GESHEN experienced a flag formation breakout above the RM0.645 level accompanied by higher-than-average volumes. The MACD Histogram has turned green and the RSI is trending higher above 50. Price is likely to rally towards the RM0.73 level. Support will located around the RM0.615

TMCLIFE has trended sideways over the past four trading days between the RM0.665-RM0.69 levels after the breakout on 8th April. The MACD Line has crossed above zero. The RSI is hovering above 50. Monitor for a breakout above the RM0.69 level, targeting the RM0.75 level. Support will be located around the RM0.64 level.

PRESTAR has formed a five-bar consolidation between the RM0.53-RM0.55 levels. The MACD Line is trending higher, in tandem with the MACD Histogram. The RSI, however, is overbought. Monitor for a breakout above the RM0.55 level, targeting the RM0.635-RM0.67 levels. Support will be pegged around the RM0.53 level.

Source: M+ Online Research - 15 Apr 2015