The FBM KLCI dived towards an intra-day low of 1,614.40 pts before ending marginally higher at 1,635.84 pts (+3.65 pts) yesterday, led by Petronas-related heavyweights. The MACD Histogram has turned green, while the RSI is oversold. The FBM KLCI may rebound towards the 1,660 level. Meanwhile, the support will be pegged around 1,600.

MAYBULK has experienced a flag formation breakout above the RM0.85 level with higher-than-average volumes. The MACD Line is recovering above the zero level, while the RSI is trending towards 50. Price may rally towards the RM0.945 and RM1.00 levels. Support will be set around the RM0.815 level.

PENTA experienced a short term breakout above the RM0.675 level with improved volumes. The MACD Indicator expanded positively above zero, while the RSI is hovering above 50. Monitor for a breakout above the RM0.705 level, targeting the RM0.775 level. Support will be envisaged around the RM0.655 level.

PTB rebounded off the EMA20 level and rallied above the RM0.175 level with higher-than-average volumes. The MACD Histogram has extended another green bar, while the RSI is hovering above 50. Price target will be envisaged around the RM0.195 and RM0.24 levels. Support will be anchored around the RM0.16 level.

Source: M+ Online Research - 11 May 2016