Tracking the positive performance on the overnight Dow, the FBM KLCI managed to regain traction and bargain hunting activities emerged yesterday. The MACD Histogram has turned green, while the RSI is oversold. The FBM KLCI may rebound higher towards the 1,660 level over the near term. Meanwhile, the support will be pegged around the 1,610 level.

HHGROUP has formed a short term consolidation breakout above the RM0.425 level with higher-thanaverage volumes. The MACD Histogram has turned green, while the RSI has crossed above 50. Price target will be envisaged around the RM0.465 and RM0.545 levels. Support will be anchored around the RM0.41 level.

BIOHLDG has experienced a short term breakout above the RM0.375 level with improved volumes. The MACD Line is approaching zero, while the RSI is hovering above 50. Price target will be envisaged around RM0.425. Support will be located around the RM0.36 level.

LIIHEN continues to trend positively above the EMA9 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero, while the RSI has hooked above 50. Monitor for a breakout above the RM2.53 level, targeting the RM2.67 and RM2.80 levels. Support will be set around the RM2.42 level.

Source: M+ Online Research - 18 May 2016