The FBM KLCI rebounded for the third consecutive days after buying support emerged near the 1,630 level. The MACD Histogram extended another green bar, while the RSI is hovering above 30. The FBM KLCI may extend its rebound towards the 1,660 level. Support will be set around the 1,630 level.

ANZO experienced a flag formation breakout above the RM0.26 level with high volumes. The MACD Indicator is suggesting that the momentum is intact, while the RSI is hovering above 50. Price may rally towards the RM0.31 and RM0.36 levels after a short consolidation. Support will be set around the RM0.24 level.

AZRB experienced a short term breakout above the RM0.73 level with higher-than-average volumes. The MACD Histogram has turned green, while the RSI is hovering above 50. Price target will be envisaged around the RM0.765 and RM0.81 levels. Support will be pegged around the RM0.715 level.

MHB has trended sideways around the RM1.07-RM1.12 levels over the past two weeks. The MACD Histogram has extended another green bar, while the RSI is oversold. Monitor for a breakout above the RM1.12 level, targeting the RM1.24 and RM1.34 levels. Support will be anchored around the RM1.07 level.

Source: M+ Online Research - 13 May 2016