Following the strong gap-up position on Thursday, the FBM KLCI ended in the negative territory near the EMA9 level. The MACD Line is hovering below the Signal Line, while the RSI has hooked below 50. The FBM KLCI’s upside will be capped around the 1,730 level. Meanwhile, the support will be pegged around the 1,700 level.

AZRB experienced a flag formation breakout above the RM0.715 level with higher-than-average volumes. The MACD Histogram has turned green. The RSI continues to trend positively above zero. AZRB may extend its rally towards the price target of the RM0.775 and RM0.81 levels. Support will be pegged around the RM0.695 level.

IWCITY has experienced strong consolidation breakout above the RM0.84 level with high volumes. The MACD Indicator is trending positively above the zero level. The RSI, however, is overbought. Price may rally towards the RM0.98 and RM1.06 levels after a short consolidation. Support will be set around the RM0.82 level.

PRG has rebounded off the EMA9 level with improved volumes, forming a potential flag formation breakout above the RM1.12 level. The MACD Histogram has turned green. The RSI has hooked above 50. Price target will be envisaged around the RM1.18 and RM1.24 levels. Meanwhile, the support will be anchored around the RM1.09 level.

Source: M+ Online Research - 25 Apr 2016