Once again, the FBM KLCI rebounded off the EMA9 level on the back of buying support on oil and gas heavyweights amid the recovery of crude oil price. The MACD Histogram has turned green, while the RSI is hovering above 50. The FBM KLCI may retest the 1,730 level over the near term. Support will be set around the 1,700 level.

DSONIC has formed a flag formation breakout above the RM1.34 level with higher-thanaverage volumes. The MACD Indicator has issued a “Buy” signal, while the RSI has hooked above 50. Price may rally towards the RM1.44-RM1.56 levels after a short consolidation. Support will be pegged around the RM1.31 level.

EKOVEST trended sideways between the RM1.04-RM1.09 levels with improving volumes. The MACD Line is trending higher and approaching zero. The RSI is hovering above the 50 level. Monitor for a breakout above RM1.09, targeting the RM1.15-RM1.20 levels. Support will be envisaged around the RM1.04 level.

After a four-day consolidation, OKA surged above the RM0.985 level accompanied by high volumes. The MACD Indicator has trended positively above zero, while the RSI is hovering above 50. Price target will be located around the RM1.10-RM1.15 levels. Support will be anchored around the RM0.96 level.

Source: M+ Online Research - 8 Apr 2016