The FBM KLCI continues to end below the EMA9 level. The MACD Histogram, however, has turned green, while the RSI is oversold (below 30). The FBM KLCI could be due for a technical rebound above the EMA9 level, targeting the 1,770 level. Support will be pegged around the 1720-1,730 levels.

HOVID has gapped up above the trendline with improved volumes following a flag formation breakout on Wednesday. The MACD indicator has issued a “Buy” signal, while the RSI has crossed above 50. Price target will be envisaged around the RM0.53 and RM0.565 levels. Support will be anchored around the RM0.47 level.

MNRB has experienced a neckline breakout above the RM4.00 level with high volumes. The MACD Indicator has expanded positively above zero, but the RSI is slightly overbought. Price may rally towards the target of the RM4.40-RM4.60 levels after a short consolidation. Support will be set around RM3.90.

RCECAP is trending higher above the EMA20 level over the past week. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above the RM0.355 level, targeting the RM0.375-RM0.40 levels. Support will be set around the RM0.34 level.

Source: M+ Online Research - 12 Jun 2015