The sustained foreign fund inflow sent the FBM KLCI higher for the fourth straight session, before closing at 1,754.67 pts yesterday. The MACD Histogram has extended another green bar, but the RSI is overbought. The immediate resistance will be pegged around the 1,770-1,780 levels. Support will be set around the 1,730 level.

SALCON experienced a breakout-pullback-continuation pattern above the EMA9 level with high volumes. The MACD Histogram has extended another green bar, but the RSI is overbought. Price may rally towards the RM0.705-RM0.77 levels after a short consolidation. Support will be anchored around the RM0.62 level.

BREM experienced a breakout-pullback-continuation pattern above the RM0.84 level with improved volumes. The MACD Histogram has turned green, while the RSI is slightly overbought. Price target will be envisaged around the RM0.935 and RM0.985 levels. Support will be pegged around the RM0.84 level.

After rebounded off the EMA20 level, YONGTAI has formed a symmetrical triangle formation breakout above the RM1.42 level. The MACD Histogram has extended another green bar, while the RSI is trending above 50. Price may extend its gains, targeting the RM1.50-RM1.60 levels. Support will be set around the RM1.37 level.

Source: Mplus Research - 22 Mar 2017