The FBM KLCI continues its technical rebound towards the 1,660 level yesterday. The MACD Line is trending higher, approaching the zero level. The RSI is hovering above the 50 level. The FBM KLCI is likely to take a pause near the resistance of the 1,660 level to digest the recent gains. Meanwhile, support will be pegged around the 1,630 level.

TUNEPRO experienced a pennant breakout above the RM1.53 level with higher-than-average volumes. The MACD Indicator has issued a “Buy” signal, while the RSI is trending positively above 50. Price target will be envisaged around the RM1.76 and RM1.87 levels. Support will be anchored around RM1.41.

EG has gapped-up above the RM0.89 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero, while the RSI is trending positively above zero. Price may rally towards the RM1.03 and RM1.14 levels. Support will be located around the RM0.86 level.

SKPETRO has experienced a sideways consolidation breakout above the RM1.69 level. The MACD Line is approaching zero, while the RSI is slightly overbought. Price may rally towards the RM1.88 level over the near term. Support will be pegged around the RM1.64 level.

Source: M+ Online Research - 8 June 2016