The FBM KLCI ended lower for the second consecutive day amid profit taking activities, coupled with the weaker sentiment throughout the regional indices like Hang Seng and the Nikkei 225. The MACD Histogram has turned red, but the RSI is hovering above 50. Resistance will be envisaged around the 1,660 level. Support will be located around the 1,630 level.

SOILUTN has experienced a sideways consolidation breakout above the RM0.43 level with improved volumes. The MACD Indicator has expanded positively above zero, while the RSI is trending positively above 50. Price target will be envisaged around the RM0.48-RM0.50 levels. Support will be anchored around the RM0.415 level.

PMBTECH has experienced a flag formation breakout above the RM1.26 level with higher-than-average volumes. The MACD Indicator has expanded positively above zero. The RSI, however is overbought. Price may rally towards the target of the RM1.56-RM1.65 levels after a short consolidation. Support will be located around the RM1.21 level.

EATECH has broken out above the RM1.14 level with higher-than-average volumes. The MACD Line is approaching zero, while the RSI is hovering above 50. Price target will be located around the RM1.38 and RM1.50 levels. Support will be pegged around the RM1.08 level.

Source: M+ Online Research - 10 June 2016