The FBM KLCI continues to see profit taking activities around the 1,860 level. The MACD Histogram has turned red, but the RSI is hovering above 50. The FBM KLCI’s upside may be capped around the 1,860-1,880 levels. Support will be located around the 1,820-1,840 levels.

SUPER trended sideways between the RM2.80-RM2.95 levels over the past two weeks. The MACD Histogram has turned green, while the RSI is hovering near 50. Monitor for a breakout above the RM2.95 level, targeting the RM3.30-RM3.60 levels. Support will be anchored around the RM2.80 level.

TEXCHEM retested the immediate resistance of the RM1.55 level with improved volumes. The MACD Line is approaching the zero level, while the MACD Histogram has turned green. Monitor for a breakout above the RM1.55 level, targeting the RM1.79 and RM2.00 levels. Support will be pegged around the RM1.48 level.

CHUAN has pulled back near to the EMA9 level with declining volumes after a breakout surge on 22nd Apr. The MACD Line is still hovering above zero, but the RSI is overbought. Price target will be envisaged around the RM0.69 and RM0.815 levels. Support will be seen around the RM0.58 level.

Source: M+ Online Research - 29 Apr 2015