The FBM KLCI trended sideways above the EMA9 level on the back of profit takingactivities among banking stocks. The MACD Histogram has turned red. The RSI, however, is hovering above 50. The FBM KLCI may retest the 1,730-1,740 levels. Support will be set around the 1,700 level.

KAREX experienced a breakout above the RM3.85 level with improved volumes, followed by a follow-through interest buying support towards the RM4.00 level. The MACD Indicator continues to trend higher towards zero, while the RSI is hovering above 50. Price may rally towards the RM4.17-RM4.37 levels after a short consolidation. Support will be set around the RM3.74 level.

TUNEPRO experienced a short term breakout above the RM1.35 level with improved volumes. The MACD Line is hovering above zero, while the MACD Histogram has extended another green bar. The RSI has hooked above 50. Price should be rallying towards the RM1.46-RM1.54 levels over the near term. Support will be anchored around the RM1.30 level.

IKHMAS rebounded off the EMA9 level with improved volumes, forming a flag formation breakout above the RM0.72 level. The MACD indicator expanded positively above zero, but the RSI is slightly overbought. Price may rally higher towards the RM0.835 level. Support will be pegged around the RM0.69 level.

Source: M+ Online Research - 6 Apr 2016