The FBM KLCI rebounded higher on Friday amid bargain hunting activities led by MISC and HLBANK. The MACD Line, however, is hovering below Signal Line. The RSI is trending below 50. As both the indicators are negative, the FBM KLCI may trend lower after a mild rebound. Resistance will be envisaged around 1,630. Support will be pegged around 1,600.

GESHEN has broken out of the sideways consolidation phase, forming a bullish candle above the EMA20 level. The MACD Histogram has turned green. The RSI is trending above 50. Price target will be envisaged around the RM1.84 and RM2.23 levels. Support will be located around RM1.51.

KANGER has trended sideways over the past three weeks between the RM0.285-RM0.30 levels. The MACD Histogram has turned green. The RSI, however, is hovering below 50. Monitor for a breakout above the RM0.30, targeting the RM0.345 and RM0.40 levels. Support will be set around RM0.285.

CRESBLD has rebounded off the EMA20 level with higher-than-average volumes. The MACD Line is hovering above zero. The RSI is trending positively above 50. Monitor for a breakout above the RM0.97 level, targeting the RM1.03-RM1.10 levels. Support will be set around the RM0.95 level.

Source: M+ Online Research - 20 June 2016