The FBM KLCI resumed its downward momentum below the EMA9 level, led by selling activities on Tenaga Nasional. The MACD Histogram has turned red. The RSI is hovering below 50. The FBM KLCI is likely to continue its consolidation phase below the EMA9. Resistance will be pegged around the 1,740 level.

SUPERMX has experienced a flag formation breakout above the RM2.09 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is above 50. Price target will be envisaged around the RM2.18 and RM2.37 levels. Support will be set around the RM2.03 level.

TNLOGIS could be forming a Breakout-Pullback-Continuation pattern above the RM1.15 level. The MACD Histogram has turned green, while the RSI has crossed above 30. Monitor for a breakout above the RM1.20 level, targeting the RM1.26 and RM1.32 levels. Support will be set around the RM1.15 level.

NCB experienced a four-day consolidation breakout with improved volumes above the RM3.34 level. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the target of the RM3.69 and RM4.00 levels. Support will be located around the RM3.20 level.

Source: M+ Online Research - 19 Jun 2015