The FBM KLCI continues to stay below the EMA9 level as selling activities intensified below the 1,770 level. The MACD Histogram extended another red bar. The RSI, however, is oversold. Price may re-visit the support of the 1,750 level over the near term. Meanwhile, the resistance will be set around the 1,800 level.

SHL experienced a flag formation breakout above the RM3.35 level with higher-than-average volumes. The weekly MACD Line has expanded positively above zero, but the RSI is slightly overbought. Price may rally towards the RM3.59 and RM3.94 levels after a short consolidation. Support will be pegged around the RM3.29 level.

ABRIC has experienced a consolidation breakout above the RM0.51 level and surged above the trendline with improved volumes. The MACD Indicator has issued a “Buy” signal. The RSI is trending higher above 50. Price target will be envisaged around the RM0.60-RM0.64 levels. Support will be anchored around the RM0.49 level.

MULPHAL has rebounded off the RM0.82 level with improved volumes. The MACD Histogram has turned green, in tandem with the MACD Line’s movement. The RSI has crossed above 50. Price target will be located around the RM0.94 and RM1.00 levels. Support will be pegged around the RM0.79 level.

Source: M+ Online Research - 27 May 2015