The FBM KLCI has retraced back towards the downward trendline last week after the breakout of the 1,820 level in March. The MACD Histogram extended another red bar, while the RSI is trending below 50. Resistance will be pegged around the 1,840 level. Support will be located around the 1,800 level.

LONBISC experienced a breakout above the RM0.82 level with higher-than-average volumes. The MACD Indicator has indicated a “Buy” signal. The RSI continues to trend higher above 50. Price may rally towards the target of the RM0.875-RM0.92 levels. Support will be set around the RM0.79 level.

PELIKAN has trended sideways between the range of the RM1.12-RM1.20 levels over the past two months. The MACD Indicator has issued a “Buy” signal, while the RSI has hooked above 50. Monitor for a consolidation breakout above the RM1.20 level, targeting the RM1.28-RM1.35 levels. Support will be set around the RM1.12 level.

Following a breakout above the RM0.40 level with high volumes last Thursday, KGB has pulled back mildly with low volumes on Friday. The MACD Indicator expanded positively above zero, but the RSI is overbought. Monitor for a breakout above the RM0.415 level, targeting the RM0.49 level. Support will be set around RM0.40.

Source: M+ Online Research - 11 May 2015