Despite staying in the positive territory for most of the trading session, last minute selling pressure sent the FBM KLCI lower, closing at 1,747.00 pts yesterday. The MACD Histogram has extended another red bar, while 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.

Following the rebound from January 2017, AIRASIA continues to be supported above the EMA20 level. The MACD Histogram has turned green, but the RSI is slightly overbought. 50. Monitor for a breakout above the RM2.94 resistance level to target the RM3.08-RM3.30 levels. Support will be anchored around the RM2.77 level.

AEON experienced a symmetrical triangle formation breakout above the RM2.41 level with improved volumes. The MACD Histogram has turned green, while the RSI has risen above 50. Price target will be envisaged around the RM2.57 and RM2.70 levels. Support will be pegged around the RM2.26 level.

MIKROMB has been consolidating between the RM0.54 and RM0.60 levels over the past two months. The MACD Line has issued a BUY signal, while the RSI is trending above 50. Monitor for a breakout above the RM0.60 level to target the RM0.65-RM0.70 levels. Support will be set around the RM0.56 level.

Source: Mplus Research - 24 Mar 2017