The FBM KLCI extended its correction phase below the 1,800 psychological level. The MACD Indicator trended negatively below zero, while the RSI is hovering below 50, almost nearing the 30 level. Resistance will be envisaged around the 1,820 level. Support will be located around the 1,770 level.

SUPERLN has experienced a consolidation breakout above the RM1.24 level with higher-than-average volumes. The MACD Indicator trended higher, while the RSI has crossed above 50. Price may rally towards the RM1.36 and RM1.50 levels over the near term. Support will be pegged around the RM1.16 level.

MAGNA has consolidated sideways above the EMA9 after a strong surge above RM0.95 in April. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above the RM1.17 level, targeting the RM1.28 and RM1.40 levels. Support will be set around the RM1.08 level.

ILB has trended sideways around the EMA20 level over the past two weeks. The MACD Histogram has turned green. The RSI has hooked above 50. Monitor for a breakout above the RM0.78 level, targeting the RM0.815 and RM0.865 levels. Support will be located around the RM0.76 level.

Source: M+ Online Research - 13 May 2015