The FBM KLCI extended its downward course on a last minute sell down among selected index heavyweights. The MACD Histogram, however, has turned green. The RSI is suggesting that the key index is oversold. The FBM KLCI may rebound towards the 1,770 level. Support will be set around the 1,730 level.

POHUAT trended sideways above the RM2.01 level over the past two weeks. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above the RM2.12 level, targeting the RM2.39 level. Support will be pegged around the RM2.01 level.

SUNZEN has experienced a sideways consolidation breakout above the RM0.385 level with improved volumes. The MACD Histogram has turned green, while the RSI has crossed above 50. Price target will be envisaged around the RM0.405 and RM0.45 levels. Support will be located around the RM0.375 level.

PADINI experienced a short term consolidation breakout above the RM1.42 level with higher-than-average volumes. The MACD Line has surged above zero, while the RSI is trending higher above 50. Price target will be pegged around the RM1.48-RM1.57 levels. Support will be set around the RM1.34 level.

Source: M+ Online Research - 3 Jun 2015