The FBM KLCI rebounded mildly on Friday as bargain hunting activities were noted on Tenaga Nasional after it was sold down on Thursday last week. The MACD Histogram has turned green, while the RSI is above 30. The resistance will be located around 1,740, while the support will be set around 1,700.

JERASIA has experienced a strong sideways consolidation breakout above the RM0.63 level. The MACD Histogram has turned green, while the RSI continues to stay above 50. Price may rally towards the RM0.82 level after a short consolidation. Support will be located around the RM0.59 level.

CENTURY surged above the RM0.855 level with improved volumes after it was beaten down two weeks ago. The MACD Indicator has been trending higher over the past week. The RSI is hovering near 50. Monitor for a breakout above the RM0.925 level, targeting the RM1.07 level. Support will be set around the RM0.855 level.

PENTA experienced a breakout above the RM0.72 level with high volumes. The MACD Indictor has issued a “Buy” signal above zero, while the RSI is trending higher above 50. Price target will be envisaged around the RM0.895 level. Support will be located around the RM0.64 level.

Source: M+ Online Research - 22 Jun 2015