The FBM KLCI extended its technical rebound above the 1,800 level amid buying interest among selected oil and gas heavyweights. The MACD Histogram extended another green bar, while the RSI has crossed above 30. Resistance will be pegged around 1,820. Support will be set around 1,770.

MIKROMB has experienced a breakout above the RM0.395 level with higher-than-average volumes. The MACD Indicator is trending higher above zero. The RSI is hovering above 50. Price target will be envisaged around the RM0.435 and RM0.50 levels. Support will be located around the RM0.365 level.

INSAS has experienced a consolidation breakout above the RM0.94 level with high volumes. The MACD Histogram trended positively above zero. The RSI, however, is slightly overbought. Price may rally towards the target of the RM1.02-RM1.05 levels after a short consolidation. Support will be anchored around the RM0.91 level.

KIALIM has trended sideways above the EMA20 over the past two trading weeks without significant volumes. The MACD Histogram has turned green, but the RSI is overbought. Monitor for a breakout above the RM0.625 level, targeting the RM0.675 and RM0.71 levels. Support will be located around the RM0.60 level.

Source: M+ Online Research - 18 May 2015