Selling pressure emerged and the FBM KLCI ended below the psychological level of 1,700 points, forming a bearish engulfing bar. The MACD Histogram has turned red, but the RSI is hovering above 50. The FBM KLCI’s upside will be capped around 1,700. Meanwhile, the support will be set around 1,660.

FPI rebounded off the EMA9 level with higher-than-average volumes. The MACD Line is hovering above the zero level, while the RSI stayed above the 50 level. Monitor for a breakout above the RM0.975 level, targeting the RM1.04 level. Support will be pegged around the RM0.955 level.

EVERGRN formed a bullish engulfing bar near the RM1.00 psychological level with improved volumes. The MACD Histogram has turned green and the RSI is at the oversold position. Price may rebound towards the RM1.12 and RM1.18 levels. Support will be anchored around the RM0.99 level.

SERNKOU rebounded off the EMA20 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI has hooked above 50. Monitor for a breakout above the RM0.855 level, targeting the RM0.92 level, followed by RM1.00. Support will be envisaged around the RM0.81 level.

Source: M+ Online Research - 9 Mar 2016