The FBM KLCI fluctuated between the positive and negative region throughout the yesterday’s trading session, but managed to end marginally higher by 0.13 pts led by Maybank and RHB Capital. The MACD Line is trending higher above Signal Line. The RSI, however is hovering below 50. Resistance will be set around 1,630, followed by 1,660. Meanwhile, support will be pegged around 1,600.

EG has formed a bullish breakout above the RM0.90 level with improved volumes. The MACD Line is trending positively above zero, but the RSI stood at 70 (overbought). Price may rally towards the RM1.00 and RM1.05 levels after a short consolidation. Support will be located around RM0.875.

WZSATU has experienced a strong consolidation breakout above the RM1.03 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero, but the RSI is overbought. Price target will be envisaged around the RM1.12 and RM1.28 levels. Support will be anchored around the RM1.00 level.

After the recent breakout above the RM0.795 level, price trended sideways over the past four trading days without significant volumes. The MACD Histogram has turned green. The RSI is trending higher towards 50. Monitor for a breakout above the RM0.815 level, targeting the RM0.90 and RM0.94 levels. Support will be set around RM0.795.

Source: M+ Online Research - 27 May 2016