The FBM KLCI performed a technical rebound around the support of the 1,820 level after the recent sharp fall. The MACD Histogram, however, extended another red bar. Also, the RSI has been hovering below 50. The FBM KLCI’s upside is likely to be capped around the 1,840-1,860 levels.

UZMA has surged above the EMA120 level with mild volumes yesterday. The MACD Histogram extended another green bar, while the RSI is hovering near 50. Monitor for a breakout above the RM2.52 level, targeting the RM3.00-RM3.15 levels. Support will be set around the RM2.19 level.

GESHEN experienced a flag formation breakout above the RM0.705 level with slight improvement in volumes. The MACD Histogram has turned green, while the RSI is trending higher above 50. Price target will be envisaged around the RM0.78-RM0.84 levels. Support will be located around the RM0.66 level.

GLBHD has experienced triangle breakout above the RM1.17 level with high volumes. The MACD Indicator has issued a “Buy” signal and the RSI has crossed above 50. Price is likely to rally towards the RM1.26 and RM1.35 levels. Support will be anchored around the RM1.12 level.

Source: M+ Online Research - 6 May 2015