The FBM KLCI trended lower as selling pressure were seen on most of the telco heavyweights, particularly DiGI and Axiata. The MACD Line is hovering below the zero level, but the MACD Histogram extended another green bar. The RSI is hovering above 30. The FBM KLCI may be due for a technical rebound above 1,640. Support will be located around 1,630.

CRESBLD has rebounded off the RM0.925 level with improved volumes, forming a bullish candle above the EMA120 level. The MACD Histogram has turned green, while the RSI is hovering above the 50 level. Price target will be envisaged around the RM1.00 and RM1.03 levels. Support will be set around the RM0.925 level.

BPPLAS experienced a sideways consolidation breakout above the RM1.48 level with higher-than-average volumes. The MACD Line is approaching the zero level, while the RSI is trending above 50. Price may rally towards the RM1.70 and RM1.80 levels after a short consolidation. Support will be set around RM1.41 level.

YOCB experienced a sideways consolidation breakout above the RM0.93 level with high volumes. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price may rally towards the target of the RM1.06-RM1.11 levels after a short consolidation. Support will be envisaged around RM0.905

Source: M+ Online Research - 23 May 2016