The FBM KLCI has pulled back after hitting the 1,660 resistance level. The MACD Histogram extended another red bar, but the RSI is hovering above 50. The FBM KLCI may trend sideways over the near term. Meanwhile, support will be located around the 1,630 level.

JOHOTIN experienced a short term flag formation breakout above the RM1.90 level with mild volumes. The MACD Line has issued a “Buy” signal, while the RSI is approaching 50. Monitor for a breakout above RM2.00, targeting the RM2.18 and RM2.46 levels. Support will be pegged around the RM1.80 level.

ACOSTEC has broken out above the RM0.80 level with improved volumes. The MACD Indicators is hovering above zero, while the RSI has crossed above 50 – suggesting that the momentum is picking up. Price target will be envisaged around the RM0.885 level. Support will be set around RM0.775.

KRETAM experienced a flag breakout above the RM0.58 level with high volumes. The MACD Indicator expanded positively above zero. The RSI, however, is overbought. Price may rally towards the RM0.71 level after a short consolidation.

Source: M+ Online Research - 13 June 2016