After succumbing to mild profit taking activities, buying support returned and boosted the FBM KLCI to end higher. The MACD Indicator has turned positive and the RSI is hovering above 50. The FBM KLCI could breakout above 1,700 and revisits the 1,730 level over the near term. Support will be set around 1,660.

TDM experienced a flag formation breakout above the RM0.705 level with higher-than-average volumes. The MACD Indicator is trending positively above zero, while the RSI is above 50. Price may rally towards the RM0.785 and RM0.85 levels. Support will be anchored around the RM0.695 level.

RSENA experienced a sideways consolidation breakout above the all-time-high of RM0.40. The MACD Line is trending strongly above zero, but the RSI is overbought. Price may rally towards the price target of RM0.45-RM0.50 levels after a short consolidation. Support will be pegged around the RM0.39 level.

KPSCB experienced a flag formation breakout above the RM0.60 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI is staying positively above 50. Monitor for the price to rally towards the RM0.69-RM0.72 levels. Support will be located around the RM0.585 level.

Source: M+ Online Research - 11 Mar 2016