Follow-through buying interest continues to be noted on plantations heavyweights and the FBM KLCI trended higher towards the resistance of the 1,700 psychological level. The MACD Histogram has turned green, while the RSI is hovering above 50. Meanwhile, support will be set around 1,660.

MLGLOBAL experienced a flag formation breakout, accompanied by high volumes on the weekly chart. The MACD Histogram has turned green, while the RSI is hovering above 50. Price may rally towards the RM0.585 and RM0.70 levels. Support will be pegged around the RM0.455 level.

OSK trended sideways between the RM1.59-RM1.62 levels over the past three week. The MACD Histogram has turned green and the RSI is hovering above the 50 level. Monitor for a breakout above the RM1.62 level, targeting the RM1.69-RM1.75 levels. Support will be located around the RM1.59 level.

SUNCON experienced a sideways consolidation breakout above the RM1.52 level with high volumes. The MACD Indicator has issued a “Buy” signal, while the RSI has crossed above 50. Price target will be envisaged around the RM1.54-RM1.60 levels. Support will be anchored around the RM1.38 level.

Source: M+ Online Research - 14 Mar 2016