The FBM KLCI has ended lower, but still hovering above the 1,840 level. The MACD Line, however, has crossed below the Signal line, while the MACD Histogram has turned red. The RSI has tripped below 70. Resistance will be pegged around the 1,860 level. Meanwhile, support will be located around the 1,820 level.

MEGB experienced a breakout above the RM0.655 level with improved volumes. The MACD Line is trending higher, in tandem with the MACD Histogram’s movement. The RSI is approaching 70. Price may rally towards the RM0.74 and RM0.815 levels. Support will be located around the RM0.63 level.

AZRB experienced a sideways consolidation breakout above the RM0.73 level with higher-than-average volumes. The MACD Indicator has spiked up above zero. The RSI, however, is overbought. Price target will be envisaged around the RM0.77-RM0.81 levels. Support will be set around the RM0.695 level.

A&M has surged above the RM1.10 level with improved volumes after a two-week consolidation. The MACD Histogram extended another green bar, while the RSI has crossed above 30. Price is likely to rally towards the RM1.18 and RM1.28 levels. Support will be anchored around the RM1.06 level.

Source: M+ Online Research - 20 Apr 2015