After a flat ending on Wednesday, selling pressure on the FBM KLCI resumed and the key index dived to near its two-month low. The MACD Line has crossed below the zero level, while the RSI is approaching the oversold position. The FBM KLCI may revisit the next support at 1,650. Meanwhile, the FBM KLCI’s upside will be capped around the 1,700 level.

HHHCORP share price has staged a breakout above the RM0.115 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero, while the RSI is hovering above the 50 level. Price may rally towards the RM0.165 and RM0.20 levels over the near term. Meanwhile, support will be located around the RM0.105 level.

MSC has experienced a breakout above the RM2.60 level with higher-than-average volumes. The MACD Indicator has issued a “Buy” signal. The RSI, however, is hovering in the overbought zone. Price may rally towards the RM2.99 level after a short term consolidation. Support will be located around the RM2.50 level.

POS has rebounded off the EMA9 with improved volumes, forming a bullish engulfing bar yesterday. The MACD Indicator is improving above the zero level. The RSI is trending positively above the 50 level. Price target will be envisaged around the RM3.07 level. Support will be anchored around the RM2.60 level.

Source: M+ Online Research - 29 Apr 2016