After the FBM KLCI retested the 1,630 level several times last week, buying support boosted the key index higher into the positive territory, forming a hammer candle last Friday. The MACD Histogram has turned green, but the RSI is staying within the oversold region. The key index may be due for a rebound towards 1,660. Meanwhile, the support is located around the 1,630 level.

TPC has trended sideways over the past two weeks between the RM0.44-RM0.46 levels. The MACD Indicator is trending positively above zero. The RSI, however, is hovering above 70. Monitor for a breakout above RM0.46, targeting the RM0.50-RM0.60 levels. Support will be pegged around the RM0.43 level.

WANGZNG experienced a consolidation breakout above the RM0.805 level with improved volumes. The MACD Indicator has issued a “Buy” signal. The RSI, however, is slightly overbought. Price may rally towards the RM0.86 and RM0.90 levels after a short term consolidation. Support will be set around RM0.775.

MYCRON experienced a flag formation breakout above the RM0.445 level with higher-than-average volumes. The MACD Indicator expanded positively above the zero level. The RSI is hovering above the 50 level. Price target will be envisaged around the RM0.485 and RM0.57 levels. Support will be pegged around the RM0.42 level.

Source: M+ Online Research - 9 May 2016