Despite the Dow ending above the 18,000 psychological level, the FBM KLCI endured some selling activities among Maybank and Genting – resulting in the key index falling below the EMA20 level. The MACD Histogram has extended another red bar, while the RSI is below 50. Upsides will be capped around 1,730, while the support will be pegged around 1,700.

HHGROUP experienced a strong consolidation breakout above the RM0.42 level with high volumes. The MACD Line has crossed above zero, but the RSI is overbought. Price may rally towards the RM0.475 level and RM0.55 level after a short consolidation phase. Support will be set around the RM0.39 level.

ESCERAM has rebounded off the RM0.515 level and breakout above the RM0.525 level with improved volumes. The MACD Histogram has turned green. The RSI, however, is hovering below 50. Price target will be envisaged around the RM0.565 and RM0.605 levels. Support will be anchored around the RM0.515 level.

TEKSENG has experienced a consolidation breakout above the RM1.11 level with higher-than-average volumes. The MACD Indicator is trending higher above the zero level. The RSI continues to hover above the 50 level. Price may rally towards the RM1.28 level over the near term. Support will be pegged around the RM1.08 level.

Source: M+ Online Research - 20 Apr 2016